Diversified Energy (NYSE:DEC) Shares Gap Up – What’s Next?

Diversified Energy Company PLC (NYSE:DEC)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $11.95, but opened at $12.45. Diversified Energy shares last traded at $12.65, with a volume of 42,266 shares trading hands.

Analyst Ratings Changes

Several brokerages recently commented on DEC. KeyCorp upped their price target on shares of Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Truist Financial increased their target price on shares of Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, January 6th.

Diversified Energy Price Performance

The business’s 50-day simple moving average is $15.00 and its 200-day simple moving average is $14.08.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 8.88%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FMR LLC acquired a new position in shares of Diversified Energy during the 3rd quarter worth $31,000. Signaturefd LLC increased its stake in shares of Diversified Energy by 181.8% during the 4th quarter. Signaturefd LLC now owns 7,763 shares of the company’s stock worth $130,000 after purchasing an additional 5,008 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Diversified Energy during the 4th quarter worth $222,000. Walleye Capital LLC acquired a new position in shares of Diversified Energy during the 4th quarter worth $223,000. Finally, XTX Topco Ltd acquired a new position in shares of Diversified Energy during the 3rd quarter worth $163,000. Institutional investors and hedge funds own 26.51% of the company’s stock.

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.