The Manufacturers Life Insurance Company Has $8.10 Million Stock Position in Diversified Energy Company PLC (NYSE:DEC)

The Manufacturers Life Insurance Company boosted its stake in Diversified Energy Company PLC (NYSE:DEC) by 3,058.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 717,585 shares of the company’s stock after buying an additional 694,866 shares during the period. The Manufacturers Life Insurance Company owned approximately 1.49% of Diversified Energy worth $8,101,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jupiter Asset Management Ltd. grew 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 worth $34,973,000 after purchasing an additional 1,150,794 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Diversified Energy during the 2nd quarter worth approximately $1,983,000. Empowered Funds LLC acquired a new position in shares of Diversified Energy during the 3rd quarter worth approximately $1,486,000. M&G PLC grew its position in shares of Diversified Energy by 5.1% during the 3rd quarter. M&G PLC now owns 1,803,398 shares of the company’s stock worth $20,523,000 after purchasing an additional 87,775 shares in the last quarter. Finally, Rhumbline Advisers bought a new stake in shares of Diversified Energy during the 2nd quarter worth approximately $927,000. Institutional investors and hedge funds own 26.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in 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 target for the company. Truist Financial upped their price target on shares of Diversified Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, November 18th.

Diversified Energy Price Performance

Shares of NYSE:DEC opened at $16.65 on Thursday. The firm has a 50 day simple moving average of $13.15 and a 200 day simple moving average of $13.53. Diversified Energy Company PLC has a one year low of $10.54 and a one year high of $18.05.

Diversified Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 6.97%. The ex-dividend date is Friday, February 28th.

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.