Diversified Energy Company PLC (NYSE:DEC) Short Interest Update

by · The Cerbat Gem

Diversified Energy Company PLC (NYSE:DEC – Get Free Report) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,290,000 shares, a growth of 20.6% from the February 13th total of 1,070,000 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average daily volume of 397,300 shares, the days-to-cover ratio is presently 3.2 days.

Diversified Energy Stock Performance

Shares of NYSE:DEC traded up $0.23 during trading on Wednesday, reaching $13.29. The stock had a trading volume of 725,148 shares, compared to its average volume of 324,767. Diversified Energy has a 1-year low of $10.54 and a 1-year high of $17.70. The business has a fifty day moving average price of $15.00 and a 200-day moving average price of $14.08.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.73%. The ex-dividend date of this dividend is Friday, May 30th.

Wall Street Analyst Weigh In

DEC has been the topic of several research analyst reports. Truist Financial upped their price objective on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, January 6th. KeyCorp increased their price target on Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th.

Read Our Latest Stock Report on DEC

Institutional Investors Weigh In On Diversified Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC acquired a new position in shares of Diversified Energy in the third quarter valued at approximately $31,000. Signaturefd LLC grew its holdings in shares of Diversified Energy by 181.8% in the fourth quarter. Signaturefd LLC now owns 7,763 shares of the company’s stock valued at $130,000 after purchasing an additional 5,008 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of Diversified Energy in the fourth quarter valued at approximately $222,000. Walleye Capital LLC acquired a new position in shares of Diversified Energy in the fourth quarter valued at approximately $223,000. Finally, XTX Topco Ltd acquired a new position in Diversified Energy during the 3rd quarter worth approximately $163,000. 26.51% of the stock is owned by hedge funds and other institutional investors.

About Diversified Energy

(Get Free Report)

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.

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