Rhumbline Advisers Sells 1,401 Shares of Diversified Energy Company PLC (NYSE:DEC)

Rhumbline Advisers lessened its holdings in shares of Diversified Energy Company PLC (NYSE:DEC) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,394 shares of the company’s stock after selling 1,401 shares during the period. Rhumbline Advisers’ holdings in Diversified Energy were worth $925,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Diversified Energy by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company’s stock worth $46,319,000 after purchasing an additional 468,312 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of Diversified Energy by 112.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 384,689 shares of the company’s stock worth $6,463,000 after purchasing an additional 203,700 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Diversified Energy in the 4th quarter worth about $6,274,000. Millennium Management LLC raised its position in shares of Diversified Energy by 687.7% in the 4th quarter. Millennium Management LLC now owns 308,987 shares of the company’s stock worth $5,191,000 after purchasing an additional 269,759 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Diversified Energy by 3.0% in the 4th quarter. Northern Trust Corp now owns 283,820 shares of the company’s stock worth $4,768,000 after purchasing an additional 8,375 shares during the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Analysts Set New Price Targets

DEC has been the subject of several recent analyst reports. Wall Street Zen raised Diversified Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Mizuho initiated coverage on Diversified Energy in a research report on Thursday, April 10th. They issued an “outperform” rating and a $23.00 price target for the company. KeyCorp lowered their price target on Diversified Energy from $21.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Finally, Citigroup initiated coverage on Diversified Energy in a research report on Tuesday, April 29th. They issued a “buy” rating and a $16.00 target price for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.

Diversified Energy Stock Performance

Shares of NYSE:DEC opened at $15.04 on Friday. Diversified Energy Company PLC has a fifty-two week low of $10.08 and a fifty-two week high of $17.70. The business has a 50-day simple moving average of $13.47 and a two-hundred day simple moving average of $14.33. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.40 and a quick ratio of 0.40.

Diversified Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.71%. The ex-dividend date of this dividend is Friday, August 29th.

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.