Diversified Energy (NYSE:DEC) Shares Gap Down – What’s Next?
by Michael Walen · The Markets DailyShares of Diversified Energy Company PLC (NYSE:DEC – Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $16.20, but opened at $15.48. Diversified Energy shares last traded at $16.0840, with a volume of 289,767 shares trading hands.
Analyst Upgrades and Downgrades
DEC has been the topic of a number of analyst reports. Johnson Rice upgraded Diversified Energy from an “accumulate” rating to a “buy” rating and upped their price objective for the stock from $19.00 to $23.00 in a research note on Friday, December 5th. Citigroup boosted their target price on shares of Diversified Energy from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Zacks Research lowered shares of Diversified Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Wall Street Zen cut shares of Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Mizuho lifted their price objective on shares of Diversified Energy from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.
Read Our Latest Stock Analysis on DEC
Diversified Energy Stock Performance
The company has a debt-to-equity ratio of 2.73, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a 50-day moving average price of $13.60 and a 200-day moving average price of $13.97. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.64 and a beta of 0.46.
Diversified Energy (NYSE:DEC – Get Free Report) last posted its earnings results on Friday, February 6th. The company reported $2.28 earnings per share for the quarter. As a group, analysts forecast that Diversified Energy Company PLC will post 0.18 earnings per share for the current year.
Diversified Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend is Friday, May 29th. Diversified Energy’s dividend payout ratio is currently 78.91%.
Insider Transactions at Diversified Energy
In other news, Director Randall S. Wade sold 2,100,000 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $13.28, for a total value of $27,888,000.00. Following the completion of the sale, the director owned 7,501,585 shares of the company’s stock, valued at approximately $99,621,048.80. The trade was a 21.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Hedge Funds Weigh In On Diversified Energy
Hedge funds have recently bought and sold shares of the company. Quarry LP increased its stake in shares of Diversified Energy by 1,595.2% in the 3rd quarter. Quarry LP now owns 2,119 shares of the company’s stock valued at $30,000 after purchasing an additional 1,994 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Diversified Energy during the 4th quarter worth $32,000. Ensign Peak Advisors Inc acquired a new stake in Diversified Energy in the fourth quarter valued at about $35,000. State of Alaska Department of Revenue acquired a new stake in Diversified Energy in the third quarter valued at about $47,000. Finally, Allworth Financial LP grew its position in Diversified Energy by 10,143.9% in the second quarter. Allworth Financial LP now owns 4,200 shares of the company’s stock valued at $62,000 after acquiring an additional 4,159 shares during the last quarter. 26.51% of the stock is owned by institutional investors.
About Diversified Energy
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.