Diversified Energy Company PLC (NYSE:DEC – Get Free Report) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 986,800 shares, a drop of 6.9% from the May 31st total of 1,060,000 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average daily volume of 203,400 shares, the days-to-cover ratio is currently 4.9 days.
Institutional Investors Weigh In On Diversified Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal London Asset Management Ltd. bought a new position in Diversified Energy during the 4th quarter worth $25,000. Fund 1 Investments LLC acquired a new stake in shares of Diversified Energy during the 4th quarter worth $56,000. Susquehanna International Securities Ltd. bought a new position in shares of Diversified Energy in the first quarter worth $131,000. Virtu Financial LLC acquired a new position in Diversified Energy in the first quarter valued at about $136,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Diversified Energy during the fourth quarter worth about $190,000. 26.51% of the stock is currently owned by institutional investors and hedge funds.
Diversified Energy Stock Performance
DEC stock opened at $13.99 on Thursday. Diversified Energy has a 52 week low of $10.54 and a 52 week high of $26.00. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.48. The company has a 50-day simple moving average of $14.09.
Diversified Energy Announces Dividend
Wall Street Analyst Weigh In
Separately, Truist Financial initiated coverage on Diversified Energy in a report on Tuesday, June 25th. They set a “buy” rating and a $18.00 price target for the company.
Check Out Our Latest Report on DEC
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.
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