Empowered Funds LLC Lowers Position in Diversified Energy Company PLC $DEC

Empowered Funds LLC cut its stake in shares of Diversified Energy Company PLC (NYSE:DEC) by 65.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 123,455 shares of the company’s stock after selling 231,814 shares during the period. Empowered Funds LLC’s holdings in Diversified Energy were worth $2,153,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. EIG Asset Management LLC bought a new stake in shares of Diversified Energy in the 4th quarter worth $139,031,000. Ameriprise Financial Inc. bought a new position in shares of Diversified Energy during the second quarter valued at about $53,894,000. Jupiter Asset Management Ltd. purchased a new position in Diversified Energy during the fourth quarter worth about $46,334,000. Man Group plc bought a new stake in Diversified Energy in the 4th quarter worth about $27,463,000. Finally, Artemis Investment Management LLP increased its stake in Diversified Energy by 114.2% in the 4th quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock valued at $37,555,000 after buying an additional 1,384,073 shares during the last quarter. 26.51% of the stock is owned by hedge funds and other institutional investors.

Diversified Energy Price Performance

Shares of NYSE:DEC opened at $13.51 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.57. The firm has a market capitalization of $976.68 million, a PE ratio of 3.84 and a beta of -0.38. Diversified Energy Company PLC has a twelve month low of $12.33 and a twelve month high of $18.90. The company has a 50-day moving average price of $13.49 and a two-hundred day moving average price of $14.44.

Diversified Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date is Wednesday, December 2nd. Diversified Energy’s payout ratio is currently 32.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DEC shares. Truist Financial cut their target price on Diversified Energy from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Jefferies Financial Group upgraded Diversified Energy to a “hold” rating in a report on Friday, July 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Diversified Energy in a research report on Tuesday. Citigroup reduced their price objective on Diversified Energy from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Finally, Zacks Research cut Diversified Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.17.

Diversified Energy 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.