SG Americas Securities LLC Purchases New Position in Diversified Energy Company PLC (NYSE:DEC)

SG Americas Securities LLC purchased a new position in shares of Diversified Energy Company PLC (NYSE:DEC) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 15,432 shares of the company’s stock, valued at approximately $176,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DEC. Mackenzie Financial Corp purchased a new stake in shares of Diversified Energy during the second quarter worth about $820,000. The Manufacturers Life Insurance Company bought a new stake in shares of Diversified Energy in the 2nd quarter worth approximately $305,000. Brighton Jones LLC increased its holdings in shares of Diversified Energy by 28.2% in the 2nd quarter. Brighton Jones LLC now owns 25,034 shares of the company’s stock worth $338,000 after acquiring an additional 5,501 shares during the period. Hsbc Holdings PLC acquired a new position in Diversified Energy during the 2nd quarter worth $219,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Diversified Energy in the second quarter worth approximately $189,000. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Diversified Energy Price Performance

DEC stock opened at $11.62 on Thursday. Diversified Energy Company PLC has a 12 month low of $10.54 and a 12 month high of $18.69. The firm has a 50 day moving average of $11.83 and a two-hundred day moving average of $13.49.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 9.98%. The ex-dividend date is Friday, November 29th.

Analysts Set New Price Targets

Several research firms have issued reports on DEC. KeyCorp assumed coverage on shares of Diversified Energy in a research report on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 price target on the stock. Truist Financial cut their target price 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 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.