Diversified Energy Company PLC (NYSE:DEC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Diversified Energy Company PLC (NYSE:DEC) have received an average rating of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $22.50.

Several equities analysts have issued reports on DEC shares. Weiss Ratings raised shares of Diversified Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Jefferies Financial Group raised Diversified Energy to a “hold” rating in a research report on Friday, July 10th. Zacks Research downgraded Diversified Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Citigroup dropped their price target on Diversified Energy from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Finally, Mizuho set a $32.00 target price on shares of Diversified Energy in a research report on Monday, August 10th.

Institutional Investors Weigh In On Diversified Energy

Large investors have recently bought and sold shares of the company. Tidal Investments LLC acquired a new stake in Diversified Energy during the 2nd quarter valued at approximately $988,000. Arizona State Retirement System lifted its position in Diversified Energy by 6.9% during the second quarter. Arizona State Retirement System now owns 19,483 shares of the company’s stock valued at $270,000 after purchasing an additional 1,261 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Diversified Energy in the second quarter worth about $26,000. Redhawk Wealth Advisors Inc. acquired a new stake in Diversified Energy during the second quarter worth about $259,000. Finally, Versant Capital Management Inc grew 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 worth $68,000 after acquiring an additional 3,256 shares during the period. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Diversified Energy Price Performance

Shares of DEC stock opened at $13.88 on Friday. Diversified Energy has a 1-year low of $12.33 and a 1-year high of $18.90. The stock’s 50-day moving average is $14.16 and its 200 day moving average is $14.77. The company has a market cap of $981.93 million, a P/E ratio of 4.30 and a beta of -0.35. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.57 and a quick ratio of 0.57.

Diversified Energy (NYSE:DEC) last posted its earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Research analysts predict that Diversified Energy will post 2.7 earnings per share for the current fiscal year.

Diversified Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 8.4%. The ex-dividend date is Wednesday, December 2nd. Diversified Energy’s payout ratio is presently 35.91%.

About Diversified Energy

Diversified Energy Company plc is an energy company focused on the acquisition, operation and management of mature onshore oil and natural gas assets. The company owns and operates producing wells, gathering systems, processing facilities and related infrastructure, primarily in the United States.

Its operations are concentrated in U.S. regions including the Appalachian Basin and central states. Diversified Energy seeks to extend the productive life of acquired assets through operational efficiencies, infrastructure management and well maintenance, while also addressing well plugging, abandonment and environmental obligations associated with its portfolio.

The company was founded in 2001 and was formerly known as Diversified Gas & Oil plc before adopting the Diversified Energy Company name.