Short Interest in Diversified Energy Company PLC (NYSE:DEC) Declines By 5.4%

Diversified Energy Company PLC (NYSE:DEC) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 2,610,000 shares, a decrease of 5.4% from the August 31st total of 2,760,000 shares. Currently, 5.7% of the shares of the company are sold short. Based on an average trading volume of 418,600 shares, the days-to-cover ratio is presently 6.2 days.

Institutional Investors Weigh In On Diversified Energy

Institutional investors have recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. grew its holdings in shares of Diversified Energy by 77.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock worth $34,973,000 after purchasing an additional 1,150,794 shares during the last quarter. M&G Plc acquired a new stake in shares of Diversified Energy during the first quarter worth approximately $20,639,000. Allianz Asset Management GmbH bought a new position in shares of Diversified Energy in the fourth quarter valued at approximately $16,390,000. Bank of New York Mellon Corp bought a new position in shares of Diversified Energy in the second quarter valued at approximately $1,983,000. Finally, Mraz Amerine & Associates Inc. boosted its holdings in shares of Diversified Energy by 1.9% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 108,279 shares of the company’s stock worth $1,461,000 after acquiring an additional 2,044 shares in the last quarter. 26.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DEC shares. KeyCorp started coverage on shares of Diversified Energy in a report on Wednesday, August 28th. They set an “overweight” rating and a $18.00 price objective on the stock. Truist Financial lowered their price target on Diversified Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday.

Diversified Energy Stock Performance

DEC traded down $0.22 during trading on Monday, reaching $11.37. 266,049 shares of the company’s stock were exchanged, compared to its average volume of 271,340. Diversified Energy has a fifty-two week low of $10.54 and a fifty-two week high of $20.00. The company has a quick ratio of 0.48, a current ratio of 0.44 and a debt-to-equity ratio of 2.69. The business has a 50 day moving average price of $12.90 and a 200 day moving average price of $13.51.

Diversified Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 10.20%. The ex-dividend date is Friday, November 29th.

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.