Diversified Energy (NYSE:DEC) Stock Price Expected to Rise, Truist Financial Analyst Says

Diversified Energy (NYSE:DEC) had its price target lifted by research analysts at Truist Financial from $21.00 to $27.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 60.62% from the company’s previous close.

Diversified Energy Stock Performance

DEC stock opened at $16.81 on Monday. Diversified Energy has a twelve month low of $10.54 and a twelve month high of $17.70. The business has a fifty day moving average of $15.27 and a 200-day moving average of $13.83.

Hedge Funds Weigh In On Diversified Energy

Several large investors have recently bought and sold shares of the business. Jupiter Asset Management Ltd. lifted its stake in shares of Diversified Energy by 77.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock valued at $34,973,000 after purchasing an additional 1,150,794 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Diversified Energy by 3,058.5% during the third quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock worth $8,101,000 after buying an additional 694,866 shares during the last quarter. Barclays PLC grew its position 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 buying an additional 322,986 shares during the period. State Street Corp grew its position in shares of Diversified Energy by 42.4% during the 3rd quarter. State Street Corp now owns 552,844 shares of the company’s stock worth $6,291,000 after buying an additional 164,728 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Diversified Energy in the 2nd quarter valued at approximately $1,983,000. 26.51% of the stock is currently owned by institutional investors and hedge funds.

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.