Citigroup Cuts Diversified Energy (NYSE:DEC) Price Target to $16.00

Diversified Energy (NYSE:DEC) had its price objective cut by Citigroup from $19.00 to $16.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

DEC has been the topic of a number of other research reports. KeyCorp boosted their target price on Diversified Energy from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Weiss Ratings lowered Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Truist Financial dropped their price objective on Diversified Energy from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Stephens assumed coverage on Diversified Energy in a report on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price objective on the stock. Finally, Zacks Research lowered Diversified Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Diversified Energy has an average rating of “Moderate Buy” and a consensus target price of $21.17.

Diversified Energy Stock Performance

Shares of DEC stock opened at $13.28 on Tuesday. 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 cap of $960.41 million, a P/E ratio of 3.77 and a beta of -0.40. The firm’s 50 day moving average price is $14.00 and its 200-day moving average price is $14.45. Diversified Energy has a one year low of $12.33 and a one year high of $18.90.

Diversified Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, August 28th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, August 28th. This represents a $1.16 annualized dividend and a yield of 8.7%. Diversified Energy’s dividend payout ratio is 32.95%.

Institutional Investors Weigh In On Diversified Energy

A number of hedge funds have recently bought and sold shares of the stock. EIG Asset Management LLC purchased a new stake in shares of Diversified Energy during the fourth quarter worth approximately $139,031,000. Ameriprise Financial Inc. lifted its stake in Diversified Energy by 11.8% in the third quarter. Ameriprise Financial Inc. now owns 4,108,991 shares of the company’s stock worth $57,567,000 after acquiring an additional 435,222 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in Diversified Energy in the fourth quarter worth approximately $46,334,000. Artemis Investment Management LLP grew its holdings in Diversified Energy by 114.2% during the 4th quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock worth $37,555,000 after acquiring an additional 1,384,073 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in Diversified Energy by 47.6% during the 3rd quarter. Citadel Advisors LLC now owns 2,379,205 shares of the company’s stock worth $33,333,000 after acquiring an additional 767,378 shares in the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.

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.