Diversified Energy (NYSE:DEC) Trading 3.5% Higher – Should You Buy?

Diversified Energy Company PLC (NYSE:DEC) shares shot up 3.5% during mid-day trading on Monday . The company traded as high as $16.50 and last traded at $16.49. 87,553 shares traded hands during trading, a decline of 67% from the average session volume of 264,129 shares. The stock had previously closed at $15.93.

Analysts Set New Price Targets

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

Diversified Energy Price Performance

The company’s 50-day simple moving average is $14.54 and its 200-day simple moving average is $13.69.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 6.86%. The ex-dividend date of this dividend is Friday, February 28th.

Institutional Investors Weigh In On Diversified Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in shares of Diversified Energy by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 113,408 shares of the company’s stock worth $1,291,000 after buying an additional 1,910 shares in the last quarter. Mraz Amerine & Associates Inc. grew its holdings in Diversified Energy by 1.9% during the 2nd 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 in the last quarter. Signaturefd LLC bought a new stake in shares of Diversified Energy in the 3rd quarter worth about $31,000. FMR LLC acquired a new stake in shares of Diversified Energy in the 3rd quarter valued at about $31,000. Finally, Brighton Jones LLC lifted its position in shares of Diversified Energy by 28.2% during the second quarter. Brighton Jones LLC now owns 25,034 shares of the company’s stock worth $338,000 after purchasing an additional 5,501 shares during the last quarter. 26.51% of the stock is currently owned by hedge funds and other institutional investors.

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.