CWA Asset Management Group LLC Makes New Investment in Diversified Energy Company PLC (NYSE:DEC)

CWA Asset Management Group LLC acquired a new position in shares of Diversified Energy Company PLC (NYSE:DEC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 23,234 shares of the company’s stock, valued at approximately $390,000.

Several other institutional investors have also recently made changes to their positions in DEC. JPMorgan Chase & Co. grew its position in Diversified Energy by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 99,159 shares of the company’s stock valued at $1,128,000 after buying an additional 23,126 shares during the period. Barclays PLC boosted its stake in shares of Diversified Energy by 166.9% during the 3rd quarter. Barclays PLC now owns 516,535 shares of the company’s stock worth $5,876,000 after acquiring an additional 322,986 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Diversified Energy during the 3rd quarter valued at about $163,000. Jane Street Group LLC acquired a new stake in shares of Diversified Energy during the 3rd quarter valued at about $384,000. Finally, State Street Corp increased its stake in shares of Diversified Energy by 42.4% in the 3rd quarter. State Street Corp now owns 552,844 shares of the company’s stock valued at $6,291,000 after purchasing an additional 164,728 shares in the last quarter. 26.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DEC has been the topic of a number of recent analyst reports. KeyCorp increased their price target on Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday. Truist Financial increased their target price on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a research report on Monday.

Diversified Energy Price Performance

DEC stock opened at $16.60 on Thursday. Diversified Energy Company PLC has a 52 week low of $10.54 and a 52 week high of $17.70. The firm has a 50-day simple moving average of $15.36 and a 200-day simple moving average of $13.85.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.16 annualized dividend and a yield of 6.99%.

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.