State Street Corp Increases Position in Diversified Energy Company PLC (NYSE:DEC)

State Street Corp grew its holdings in shares of Diversified Energy Company PLC (NYSE:DEC) by 42.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 552,844 shares of the company’s stock after buying an additional 164,728 shares during the quarter. State Street Corp’s holdings in Diversified Energy were worth $6,291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. M&G PLC lifted its holdings in Diversified Energy by 5.1% during the 3rd quarter. M&G PLC now owns 1,803,398 shares of the company’s stock valued at $20,523,000 after buying an additional 87,775 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of Diversified Energy by 77.5% during the second quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock valued at $34,973,000 after acquiring an additional 1,150,794 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Diversified Energy during the third quarter valued at approximately $1,486,000. PDT Partners LLC boosted its holdings in shares of Diversified Energy by 231.4% in the third quarter. PDT Partners LLC now owns 45,386 shares of the company’s stock valued at $516,000 after purchasing an additional 31,690 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of Diversified Energy in the second quarter valued at approximately $820,000. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

Diversified Energy Price Performance

DEC stock opened at $15.93 on Friday. Diversified Energy Company PLC has a one year low of $10.54 and a one year high of $17.05. The firm has a 50-day simple moving average of $14.54 and a two-hundred day simple moving average of $13.70.

Diversified Energy Dividend Announcement

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 given a dividend of $0.29 per share. The ex-dividend date is Friday, February 28th. This represents a $1.16 dividend on an annualized basis and a yield of 7.28%.

Analysts Set New Price Targets

Separately, Truist Financial raised their target price on shares of Diversified Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, November 18th.

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.