Short Interest in Diversified Energy Company PLC (NYSE:DEC) Increases By 20.6%

Diversified Energy Company PLC (NYSE:DEC) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 1,290,000 shares, an increase of 20.6% from the February 13th total of 1,070,000 shares. Based on an average daily trading volume, of 397,300 shares, the short-interest ratio is presently 3.2 days. Approximately 2.7% of the shares of the stock are short sold.

Diversified Energy Price Performance

Shares of NYSE DEC opened at $13.29 on Thursday. Diversified Energy has a 1-year low of $10.72 and a 1-year high of $17.70. The stock’s 50-day moving average is $14.93 and its 200 day moving average is $14.07.

Diversified Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 8.73%.

Hedge Funds Weigh In On Diversified Energy

A number of large investors have recently bought and sold shares of the stock. Invesco Ltd. increased its stake in Diversified Energy by 1.7% in the 4th quarter. Invesco Ltd. now owns 39,195 shares of the company’s stock worth $658,000 after purchasing an additional 638 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Diversified Energy by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,748 shares of the company’s stock worth $449,000 after purchasing an additional 934 shares during the period. Wells Fargo & Company MN increased its stake in Diversified Energy by 4.1% in the 4th quarter. Wells Fargo & Company MN now owns 27,287 shares of the company’s stock worth $458,000 after purchasing an additional 1,085 shares during the period. MetLife Investment Management LLC increased its stake in Diversified Energy by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 29,267 shares of the company’s stock worth $492,000 after purchasing an additional 1,597 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Diversified Energy by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,408 shares of the company’s stock worth $1,291,000 after purchasing an additional 1,910 shares during the period. 26.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. KeyCorp raised their price objective on Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Truist Financial raised their price objective on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a report on Monday, January 6th.

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.