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

Diversified Energy Company PLC (NYSE:DEC) 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 traded.

Analysts Set New Price Targets

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

Diversified Energy Stock Up 0.0 %

The firm’s fifty day moving average price is $15.00 and its 200-day moving average price is $14.08.

Diversified Energy Announces Dividend

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

Institutional Trading of Diversified Energy

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Diversified Energy by 20.4% during the fourth quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company’s stock worth $46,319,000 after buying an additional 468,312 shares in the last quarter. 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 in the last quarter. State Street Corp boosted its holdings in Diversified Energy by 42.4% during the third 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 in the last quarter. Barclays PLC boosted its holdings in Diversified Energy by 166.9% during the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock worth $5,876,000 after buying an additional 322,986 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in Diversified Energy by 112.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 384,689 shares of the company’s stock worth $6,463,000 after buying an additional 203,700 shares in the last quarter. 26.51% of the stock is currently owned by institutional investors.

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.