Empowered Funds LLC Makes New $1.49 Million Investment in Diversified Energy Company PLC (NYSE:DEC)

Empowered Funds LLC bought a new stake in shares of Diversified Energy Company PLC (NYSE:DEC) in the third quarter, Holdings Channel.com reports. The fund bought 130,589 shares of the company’s stock, valued at approximately $1,486,000.

A number of other hedge funds have also bought and sold shares of the company. Signaturefd LLC bought a new stake in Diversified Energy in the third quarter worth approximately $31,000. Virtu Financial LLC acquired a new position in Diversified Energy during the first quarter worth $136,000. Ballentine Partners LLC bought a new position in shares of Diversified Energy in the third quarter valued at $143,000. SG Americas Securities LLC acquired a new position in Diversified Energy during the 3rd quarter valued at about $176,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Diversified Energy during the second quarter valued at approximately $189,000. Institutional investors own 26.51% of the company’s stock.

Wall Street Analyst Weigh In

DEC has been the subject of several recent analyst reports. KeyCorp started coverage on Diversified Energy in a report on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 target price for the company. Truist Financial lifted their target price on shares of Diversified Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday.

Diversified Energy Price Performance

DEC stock opened at $16.19 on Friday. The firm has a 50 day simple moving average of $12.28 and a two-hundred day simple moving average of $13.40. Diversified Energy Company PLC has a one year low of $10.54 and a one year high of $18.69.

Diversified Energy Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.16%.

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.