16,498 Shares in Diversified Energy Company PLC (NYSE:DEC) Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new stake in shares of Diversified Energy Company PLC (NYSE:DEC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 16,498 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. grew its position in shares of Diversified Energy by 77.5% in the second quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock valued at $34,973,000 after purchasing an additional 1,150,794 shares during the last quarter. M&G Plc acquired a new stake in Diversified Energy during the 1st quarter valued at $20,639,000. Bank of New York Mellon Corp purchased a new position in Diversified Energy during the second quarter worth $1,983,000. Mraz Amerine & Associates Inc. raised its holdings in shares of Diversified Energy by 1.9% in the second quarter. Mraz Amerine & Associates Inc. now owns 108,279 shares of the company’s stock worth $1,461,000 after acquiring an additional 2,044 shares during the last quarter. Finally, Rhumbline Advisers purchased a new stake in shares of Diversified Energy in the second quarter valued at $927,000. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

Diversified Energy Trading Up 1.4 %

Shares of Diversified Energy stock opened at $11.92 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.44 and a quick ratio of 0.48. Diversified Energy Company PLC has a fifty-two week low of $10.54 and a fifty-two week high of $19.36. The business’s fifty day moving average is $12.56 and its two-hundred day moving average is $13.48.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 9.73%. The ex-dividend date is Friday, November 29th.

Analysts Set New Price Targets

A number of research firms recently commented on DEC. KeyCorp initiated coverage on Diversified Energy in a research report on Wednesday, August 28th. They set an “overweight” rating and a $18.00 price objective for the company. Truist Financial cut their price objective on shares of Diversified Energy from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, September 30th.

Diversified Energy Company Profile

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.