Diversified Energy (NYSE:DEC) Shares Gap Up to $13.14

Diversified Energy Company PLC (NYSE:DEC) shares gapped up before the market opened on Friday . The stock had previously closed at $13.14, but opened at $13.61. Diversified Energy shares last traded at $13.46, with a volume of 18,463 shares changing hands.

Analyst Ratings Changes

Separately, Truist Financial started coverage on shares of Diversified Energy in a research report on Tuesday, June 25th. They issued a “buy” rating and a $18.00 price objective on the stock.

Diversified Energy Trading Up 2.7 %

The company has a debt-to-equity ratio of 1.83, a current ratio of 0.48 and a quick ratio of 0.48. The stock’s 50-day moving average is $14.09.

Diversified Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.60%.

Institutional Trading of Diversified Energy

Several large investors have recently added to or reduced their stakes in DEC. Royal London Asset Management Ltd. bought a new position in Diversified Energy in the 4th quarter worth $25,000. Fund 1 Investments LLC purchased a new position in shares of Diversified Energy during the fourth quarter valued at about $56,000. Susquehanna International Securities Ltd. bought a new position in Diversified Energy in the first quarter worth about $131,000. Virtu Financial LLC purchased a new stake in Diversified Energy in the first quarter worth about $136,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Diversified Energy during the 4th quarter valued at approximately $190,000. Institutional investors own 26.51% of the company’s stock.

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.