Diversified Energy (NYSE:DEC) Upgraded by Truist Financial to Strong-Buy Rating

Diversified Energy (NYSE:DEC) was upgraded by equities research analysts at Truist Financial to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on DEC. Wall Street Zen cut shares of Diversified Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Mizuho lifted their price target on shares of Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Citigroup upped their price objective on shares of Diversified Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Johnson Rice upgraded shares of Diversified Energy from an “accumulate” rating to a “buy” rating and raised their target price for the company from $19.00 to $23.00 in a research report on Friday, December 5th. Finally, Weiss Ratings raised shares of Diversified Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.20.

Diversified Energy Price Performance

Diversified Energy stock opened at $16.65 on Monday. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.60 and a current ratio of 0.60. Diversified Energy has a 52 week low of $10.08 and a 52 week high of $17.22. The stock has a market capitalization of $1.27 billion, a P/E ratio of 11.32 and a beta of 0.46. The stock has a fifty day moving average of $13.73 and a 200-day moving average of $13.98.

Diversified Energy (NYSE:DEC) last announced its quarterly earnings data on Friday, February 6th. The company reported $2.28 earnings per share for the quarter. On average, sell-side analysts expect that Diversified Energy will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Randall S. Wade sold 2,100,000 shares of the company’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 value of $27,888,000.00. Following the sale, the director directly owned 7,501,585 shares in the company, valued at $99,621,048.80. This represents a 21.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Diversified Energy

Several large investors have recently modified their holdings of DEC. Quarry LP lifted its holdings in Diversified Energy by 1,595.2% in the third quarter. Quarry LP now owns 2,119 shares of the company’s stock valued at $30,000 after buying an additional 1,994 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Diversified Energy during the 4th quarter worth about $32,000. Ensign Peak Advisors Inc bought a new position in shares of Diversified Energy in the 4th quarter worth about $35,000. State of Alaska Department of Revenue bought a new position in shares of Diversified Energy in the 3rd quarter worth about $47,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Diversified Energy by 261.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock valued at $74,000 after purchasing an additional 3,666 shares during the period. 26.51% of the stock is currently owned by institutional investors and hedge funds.

About Diversified Energy

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.