Diversified Energy (NYSE:DEC) Price Target Raised to $27.00 at Truist Financial

Diversified Energy (NYSE:DEC) had its target price lifted by Truist Financial from $21.00 to $27.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 57.43% from the company’s current price.

Diversified Energy Stock Performance

DEC stock opened at $17.15 on Monday. The business has a fifty day moving average of $15.07 and a 200-day moving average of $13.79. Diversified Energy has a twelve month low of $10.54 and a twelve month high of $17.70.

Institutional Investors Weigh In On Diversified Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Jupiter Asset Management Ltd. raised its position in shares of Diversified Energy by 77.5% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock valued at $34,973,000 after acquiring an additional 1,150,794 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Diversified Energy by 3,058.5% during the third quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock worth $8,101,000 after purchasing an additional 694,866 shares during the period. Barclays PLC increased its holdings in Diversified Energy by 166.9% in the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock valued at $5,876,000 after purchasing an additional 322,986 shares during the last quarter. State Street Corp lifted its stake in Diversified Energy by 42.4% in the third quarter. State Street Corp now owns 552,844 shares of the company’s stock valued at $6,291,000 after buying an additional 164,728 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Diversified Energy during the second quarter worth about $1,983,000. 26.51% of the stock is 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.