Diversified Energy Company PLC (NYSE:DEC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Diversified Energy Company PLC (NYSE:DEC) have been given an average recommendation of “Buy” by the nine ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $21.8333.

A number of equities research analysts have commented on DEC shares. Stephens started coverage on Diversified Energy in a research note on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price target for the company. KeyCorp increased their price target on Diversified Energy from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Weiss Ratings cut Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Zacks Research upgraded Diversified Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 25th. Finally, Citigroup increased their price target on Diversified Energy from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th.

Diversified Energy Trading Up 0.7%

Shares of NYSE DEC opened at $13.26 on Wednesday. The company has a debt-to-equity ratio of 3.57, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $958.75 million, a P/E ratio of 3.77 and a beta of -0.46. Diversified Energy has a 1-year low of $12.33 and a 1-year high of $18.90. The business has a fifty day moving average price of $15.38 and a 200 day moving average price of $14.68.

Diversified Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, August 28th will be paid a $0.29 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.16 dividend on an annualized basis and a yield of 8.8%. Diversified Energy’s dividend payout ratio (DPR) is 32.95%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DEC. EIG Asset Management LLC acquired a new position in shares of Diversified Energy in the fourth quarter valued at about $139,031,000. Ameriprise Financial Inc. acquired a new position in shares of Diversified Energy in the second quarter valued at about $53,894,000. Jupiter Asset Management Ltd. acquired a new position in shares of Diversified Energy in the fourth quarter valued at about $46,334,000. Man Group plc acquired a new position in shares of Diversified Energy in the fourth quarter valued at about $27,463,000. Finally, Artemis Investment Management LLP increased its holdings in shares of Diversified Energy by 114.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock valued at $37,555,000 after purchasing an additional 1,384,073 shares during the period. 26.51% of the stock is owned by institutional investors and hedge funds.

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.