Diversified Energy (NYSE:DEC) Shares Gap Down – What’s Next?

Diversified Energy Company PLC (NYSE:DEC) gapped down before the market opened on Friday . The stock had previously closed at $16.19, but opened at $15.84. Diversified Energy shares last traded at $15.76, with a volume of 37,307 shares.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. KeyCorp upped their price objective on Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Truist Financial increased their price target on Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, January 6th.

Diversified Energy Price Performance

The company’s fifty day moving average is $16.16 and its two-hundred day moving average is $14.07.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 7.28%. The ex-dividend date of this dividend is Friday, February 28th.

Institutional Trading of Diversified Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. M&G PLC grew its stake in Diversified Energy by 5.1% during the 3rd quarter. M&G PLC now owns 1,803,398 shares of the company’s stock worth $20,523,000 after purchasing an additional 87,775 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Diversified Energy by 3,058.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock valued at $8,101,000 after buying an additional 694,866 shares during the period. State Street Corp grew its position in shares of Diversified Energy by 42.4% during the third quarter. State Street Corp now owns 552,844 shares of the company’s stock worth $6,291,000 after buying an additional 164,728 shares in the last quarter. Barclays PLC increased its stake in shares of Diversified Energy by 166.9% during the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock worth $5,876,000 after buying an additional 322,986 shares during the period. Finally, Artemis Investment Management LLP acquired a new stake in Diversified Energy in the fourth quarter valued at approximately $5,979,000. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

About Diversified Energy

Diversified Energy Company PLC operates as an independent owner and operator of producing natural gas and oil wells primarily in the Appalachian Basin of the United States. The company is involved in the production, marketing, and transportation of natural gas, natural gas liquids, crude oil, and condensates.