Diversified Energy (NYSE:DEC) Shares Cross Below 200-Day Moving Average – Should You Sell?

Diversified Energy Company PLC (NYSE:DEC)’s stock price crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $14.41 and traded as low as $13.70. Diversified Energy shares last traded at $13.7170, with a volume of 923,824 shares traded.

Analysts Set New Price Targets

Several brokerages have recently commented on DEC. Jefferies Financial Group upgraded Diversified Energy to a “hold” rating in a research report on Friday, July 10th. Zacks Research raised Diversified Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Truist Financial raised their price objective on Diversified Energy from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Citigroup decreased their price objective on shares of Diversified Energy from $19.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Diversified Energy has an average rating of “Moderate Buy” and an average price target of $22.00.

Diversified Energy Trading Down 5.0%

The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.96. The firm’s 50 day moving average is $14.42 and its two-hundred day moving average is $14.41. The stock has a market cap of $970.75 million, a price-to-earnings ratio of 4.25 and a beta of -0.28.

Diversified Energy (NYSE:DEC) last issued its earnings results on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.49). The business had revenue of $442.30 million during the quarter, compared to the consensus estimate of $492.98 million. Equities analysts anticipate that Diversified Energy Company PLC will post 2.78 EPS for the current year.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date is Wednesday, December 2nd. Diversified Energy’s dividend payout ratio is presently 35.91%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DEC. Mraz Amerine & Associates Inc. boosted its position in Diversified Energy by 6.7% during the 3rd quarter. Mraz Amerine & Associates Inc. now owns 178,595 shares of the company’s stock valued at $2,388,000 after purchasing an additional 11,150 shares during the period. Kendall Capital Management grew its stake in Diversified Energy by 91.0% during the 3rd quarter. Kendall Capital Management now owns 25,670 shares of the company’s stock worth $343,000 after buying an additional 12,230 shares during the last quarter. Sterling Capital Management LLC increased its position in Diversified Energy by 1,217.4% in the third quarter. Sterling Capital Management LLC now owns 18,852 shares of the company’s stock worth $252,000 after buying an additional 17,421 shares during the period. Skylands Capital LLC increased its position in Diversified Energy by 5.8% in the third quarter. Skylands Capital LLC now owns 164,500 shares of the company’s stock worth $2,199,000 after buying an additional 9,000 shares during the period. Finally, Fortitude Family Office LLC acquired a new stake in Diversified Energy in the third quarter worth $37,000. Institutional investors and hedge funds own 26.51% of the company’s stock.

About Diversified Energy

Diversified Energy Company plc is an independent energy company focused on acquiring, operating and managing mature onshore oil and natural gas assets in the United States. Its portfolio includes producing wells, gathering systems and related infrastructure, with an emphasis on extending the productive life of existing assets through operational improvements and disciplined asset management.

The company’s operations are concentrated in several U.S. regions, including the Appalachian, Central and Rocky Mountain areas.