Zacks Research Downgrades Diversified Energy (NYSE:DEC) to Strong Sell

Diversified Energy (NYSE:DEC) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

DEC has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Diversified Energy in a research report on Wednesday, October 8th. Mizuho raised their target price on shares of Diversified Energy from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Johnson Rice upgraded shares of Diversified Energy from an “accumulate” rating to a “buy” rating and upped their price target for the stock from $19.00 to $23.00 in a research report on Friday, December 5th. Citigroup raised their price objective on shares of Diversified Energy from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.00.

Diversified Energy Price Performance

Shares of NYSE:DEC opened at $12.53 on Monday. The stock’s 50-day simple moving average is $14.32 and its two-hundred day simple moving average is $14.40. Diversified Energy has a 52-week low of $10.08 and a 52-week high of $17.24.

Insider Buying and Selling

In other Diversified Energy news, Director Randall S. Wade sold 2,100,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $13.28, for a total transaction of $27,888,000.00. Following the completion of the transaction, the director owned 7,501,585 shares in the company, valued at $99,621,048.80. This trade represents a 21.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DEC. Royal Bank of Canada increased its position in Diversified Energy by 168.8% in the first quarter. Royal Bank of Canada now owns 26,366 shares of the company’s stock worth $356,000 after purchasing an additional 16,556 shares during the last quarter. Amundi grew its stake in shares of Diversified Energy by 4.1% in the 1st quarter. Amundi now owns 50,406 shares of the company’s stock worth $654,000 after buying an additional 1,995 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Diversified Energy in the 1st quarter worth about $151,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Diversified Energy by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,918 shares of the company’s stock valued at $377,000 after buying an additional 1,170 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Diversified Energy by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock worth $16,060,000 after acquiring an additional 760,428 shares in the last quarter. 26.51% of the stock is currently owned by institutional investors.

Diversified Energy Company Profile

Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.