Diversified Energy (NYSE:DEC) Trading Down 5.2% – Time to Sell?

Diversified Energy Company PLC (NYSE:DEC) dropped 5.2% on Thursday . The stock traded as low as $14.67 and last traded at $14.6060. Approximately 428,227 shares were traded during trading, a decline of 7% from the average daily volume of 462,285 shares. The stock had previously closed at $15.40.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DEC. William Blair initiated coverage on Diversified Energy in a research report on Tuesday, November 18th. They set an “outperform” rating on the stock. Johnson Rice raised Diversified Energy from an “accumulate” rating to a “buy” rating and lifted their price target for the company from $19.00 to $23.00 in a research note on Friday, December 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a research note on Wednesday, October 8th. Citigroup lifted their target price on shares of Diversified Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Mizuho boosted their target price on shares of Diversified Energy from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.20.

Diversified Energy Stock Down 1.5%

The company has a market capitalization of $692.68 million, a price-to-earnings ratio of 9.77 and a beta of 0.48. The stock has a 50 day moving average of $14.00 and a 200 day moving average of $14.55.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date is Friday, February 27th. Diversified Energy’s dividend payout ratio (DPR) is presently 55.10%.

Institutional Investors Weigh In On Diversified Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Pentwater Capital Management LP bought a new stake in shares of Diversified Energy during the first quarter valued at approximately $3,245,000. State of Wyoming bought a new stake in Diversified Energy during the 1st quarter valued at $266,000. Walleye Capital LLC raised its holdings in Diversified Energy by 1,164.0% during the first quarter. Walleye Capital LLC now owns 167,984 shares of the company’s stock worth $2,271,000 after buying an additional 154,694 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Diversified Energy by 53.3% in the first quarter. Russell Investments Group Ltd. now owns 77,403 shares of the company’s stock valued at $1,046,000 after buying an additional 26,899 shares in the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in shares of Diversified Energy during the first quarter valued at about $805,000. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Company Profile

Diversified Energy Company PLC operates as an independent owner and operator of producing natural gas and oil wells primarily in the Appalachian Basin of the United States. The company is involved in the production, marketing, and transportation of natural gas, natural gas liquids, crude oil, and condensates.