Zacks Research Downgrades Diversified Energy (NYSE:DEC) to Hold

Diversified Energy (NYSE:DEC) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages also recently commented on DEC. Truist Financial cut their price objective on Diversified Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Citigroup upped their price target on shares of Diversified Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. KeyCorp lifted their price objective on shares of Diversified Energy from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Stephens initiated coverage on shares of Diversified Energy in a research report on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price objective for the company. Finally, Weiss Ratings downgraded shares of Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.83.

Diversified Energy Price Performance

Shares of DEC stock opened at $13.94 on Tuesday. Diversified Energy has a 52-week low of $12.33 and a 52-week high of $18.90. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $1.01 billion, a P/E ratio of 3.96 and a beta of -0.40. The stock has a 50 day moving average price of $14.56 and a 200 day moving average price of $14.52.

Institutional Trading of Diversified Energy

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP raised its holdings in shares of Diversified Energy by 1,595.2% in the 3rd quarter. Quarry LP now owns 2,119 shares of the company’s stock valued at $30,000 after purchasing an additional 1,994 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Diversified Energy during the fourth quarter valued at approximately $32,000. Ensign Peak Advisors Inc purchased a new position in Diversified Energy during the fourth quarter valued at approximately $35,000. Versant Capital Management Inc increased its holdings in Diversified Energy by 197.0% during the second quarter. Versant Capital Management Inc now owns 4,909 shares of the company’s stock valued at $68,000 after buying an additional 3,256 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Diversified Energy by 261.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,069 shares of the company’s stock worth $74,000 after buying an additional 3,666 shares in the last quarter. 26.51% of the stock is owned by hedge funds and other 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.