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 during the month of 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. Approximately 2.7% of the shares of the company are short sold. Based on an average trading volume of 397,300 shares, the days-to-cover ratio is currently 3.2 days.

Institutional Trading of Diversified Energy

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Diversified Energy by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company’s stock valued at $46,319,000 after acquiring an additional 468,312 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Diversified Energy by 3,058.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock valued at $8,101,000 after acquiring an additional 694,866 shares during the last quarter. State Street Corp boosted 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 valued at $6,291,000 after acquiring an additional 164,728 shares during the last quarter. Barclays PLC boosted 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 valued at $5,876,000 after acquiring an additional 322,986 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of Diversified Energy by 112.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 384,689 shares of the company’s stock valued at $6,463,000 after acquiring an additional 203,700 shares during the last quarter. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Stock Performance

Shares of NYSE DEC opened at $13.29 on Thursday. Diversified Energy has a 52 week low of $10.72 and a 52 week high of $17.70. The business has a 50-day simple moving average of $14.93 and a two-hundred day simple moving average of $14.07.

Diversified Energy Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 8.73%.

Analysts Set New Price Targets

DEC has been the subject of several analyst reports. KeyCorp raised their target price on Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Truist Financial raised their target price on Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a research note 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.