Bank of New York Mellon Corp Makes New $1.98 Million Investment in Diversified Energy Company PLC (NYSE:DEC)

Bank of New York Mellon Corp bought a new position in Diversified Energy Company PLC (NYSE:DEC) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 147,017 shares of the company’s stock, valued at approximately $1,983,000. Bank of New York Mellon Corp owned about 0.30% of Diversified Energy as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Swiss National Bank acquired a new position in Diversified Energy in the 4th quarter valued at about $1,354,000. UBS Group AG acquired a new position in Diversified Energy in the fourth quarter valued at approximately $15,871,000. Allianz Asset Management GmbH purchased a new position in Diversified Energy in the fourth quarter worth approximately $16,390,000. Rathbones Group PLC acquired a new stake in Diversified Energy during the fourth quarter worth $11,603,000. Finally, Fund 1 Investments LLC purchased a new stake in Diversified Energy in the fourth quarter valued at $56,000. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Diversified Energy Stock Up 0.4 %

DEC stock opened at $11.54 on Wednesday. The company’s 50 day moving average price is $13.74 and its 200 day moving average price is $13.54. Diversified Energy Company PLC has a fifty-two week low of $10.54 and a fifty-two week high of $22.00. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.44.

Diversified Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.29 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.16 annualized dividend and a yield of 10.05%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Truist Financial upped their target price on shares of Diversified Energy from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. KeyCorp began coverage on shares of Diversified Energy in a report on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 price objective on the stock.

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.