Truist Financial Boosts Diversified Energy (NYSE:DEC) Price Target to $27.00

Diversified Energy (NYSE:DEC) had its price objective hoisted by Truist Financial from $21.00 to $27.00 in a report issued on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Diversified Energy Price Performance

NYSE:DEC opened at $16.57 on Monday. Diversified Energy has a 52 week low of $10.54 and a 52 week high of $17.70. The firm has a 50 day moving average of $15.17 and a 200 day moving average of $13.81.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.29 dividend. 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 7.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DEC. Jupiter Asset Management Ltd. grew 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 worth $34,973,000 after acquiring an additional 1,150,794 shares during the last quarter. M&G PLC boosted its stake in Diversified Energy by 5.1% in the 3rd quarter. M&G PLC now owns 1,803,398 shares of the company’s stock worth $20,523,000 after purchasing an additional 87,775 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Diversified Energy by 3,058.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock worth $8,101,000 after purchasing an additional 694,866 shares during the last quarter. State Street Corp grew its position in Diversified Energy by 42.4% during the 3rd quarter. State Street Corp now owns 552,844 shares of the company’s stock worth $6,291,000 after purchasing an additional 164,728 shares during the last quarter. Finally, Barclays PLC increased its stake in Diversified Energy by 166.9% during the 3rd quarter. Barclays PLC now owns 516,535 shares of the company’s stock valued at $5,876,000 after purchasing an additional 322,986 shares in the last quarter. 26.51% of the stock is owned by institutional investors and hedge funds.

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.