Intech Investment Management LLC Acquires New Position in Diversified Energy Company PLC (NYSE:DEC)

Intech Investment Management LLC bought a new position in Diversified Energy Company PLC (NYSE:DEC) in the 4th quarter, HoldingsChannel.com reports. The fund bought 17,462 shares of the company’s stock, valued at approximately $293,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DEC. The Manufacturers Life Insurance Company boosted its stake in shares of Diversified Energy by 3,058.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock valued at $8,101,000 after purchasing an additional 694,866 shares in the last quarter. State Street Corp boosted its position in Diversified Energy by 42.4% during 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. Barclays PLC grew its stake in shares of Diversified Energy by 166.9% during the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock valued at $5,876,000 after buying an additional 322,986 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of Diversified Energy in the fourth quarter worth about $5,979,000. Finally, Empowered Funds LLC lifted its stake in shares of Diversified Energy by 5.1% in the 4th quarter. Empowered Funds LLC now owns 137,220 shares of the company’s stock valued at $2,305,000 after acquiring an additional 6,631 shares during the last quarter. 26.51% of the stock is currently owned by institutional investors.

Diversified Energy Stock Up 2.5 %

NYSE:DEC opened at $13.49 on Thursday. The company has a 50-day moving average price of $14.62 and a 200-day moving average price of $14.14. Diversified Energy Company PLC has a 12 month low of $10.72 and a 12 month high of $17.70.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.60%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial raised their price target on Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. KeyCorp lifted their target price on shares of Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th.

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.