Diversified Energy (NYSE:DEC) Shares Gap Down to $12.76

Diversified Energy Company PLC (NYSE:DEC) gapped down before the market opened on Friday . The stock had previously closed at $12.76, but opened at $12.25. Diversified Energy shares last traded at $12.11, with a volume of 114,460 shares.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on DEC shares. Truist Financial upped their price objective on Diversified Energy from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. KeyCorp started coverage on Diversified Energy in a research note on Wednesday. They issued an “overweight” rating and a $18.00 price objective for the company.

Diversified Energy Price Performance

The company has a 50 day moving average price of $14.31 and a 200-day moving average price of $13.60. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.83.

Diversified Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 9.48%. The ex-dividend date is Friday, November 29th.

Institutional Trading of Diversified Energy

Institutional investors have recently added to or reduced their stakes in the stock. Royal London Asset Management Ltd. bought a new stake in Diversified Energy in the fourth quarter valued at approximately $25,000. Fund 1 Investments LLC bought a new stake in Diversified Energy in the fourth quarter valued at approximately $56,000. Susquehanna International Securities Ltd. bought a new stake in Diversified Energy in the first quarter valued at approximately $131,000. Virtu Financial LLC bought a new stake in Diversified Energy in the first quarter valued at approximately $136,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Diversified Energy in the fourth quarter valued at approximately $190,000. 26.51% of the stock is currently owned by institutional investors.

About Diversified Energy

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.