Zacks Research Upgrades Diversified Energy (NYSE:DEC) to Strong-Buy

by · The Cerbat Gem

Diversified Energy (NYSE:DEC – Get Free Report) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on DEC. Stephens began coverage on Diversified Energy in a research report on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price target on the stock. Weiss Ratings cut Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Wall Street Zen cut Diversified Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. KeyCorp raised their price target on Diversified Energy from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Finally, Citigroup raised their price target on Diversified Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Diversified Energy presently has an average rating of “Buy” and a consensus target price of $21.83.

Get Our Latest Research Report on Diversified Energy

Diversified Energy Stock Down 2.5%

Shares of NYSE DEC opened at $15.10 on Monday. The company has a debt-to-equity ratio of 3.57, a quick ratio of 0.47 and a current ratio of 0.47. Diversified Energy has a 52 week low of $12.33 and a 52 week high of $18.90. The stock has a market capitalization of $1.09 billion, a P/E ratio of 10.27 and a beta of -0.34. The stock’s fifty day moving average is $16.13 and its 200 day moving average is $14.74.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DEC. EIG Asset Management LLC bought a new position in Diversified Energy in the fourth quarter valued at about $139,031,000. Ameriprise Financial Inc. bought a new position in Diversified Energy in the second quarter valued at about $53,894,000. Jupiter Asset Management Ltd. bought a new position in Diversified Energy in the fourth quarter valued at about $46,334,000. Man Group plc bought a new position in Diversified Energy in the fourth quarter valued at about $27,463,000. Finally, Artemis Investment Management LLP grew its position in Diversified Energy by 114.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock valued at $37,555,000 after acquiring an additional 1,384,073 shares during the last quarter. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Company Profile

(Get Free Report)

Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.

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