Geode Capital Management LLC Buys 104,294 Shares of Diversified Energy Company PLC $DEC

Geode Capital Management LLC grew its stake in shares of Diversified Energy Company PLC (NYSE:DEC) by 18.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 678,409 shares of the company’s stock after acquiring an additional 104,294 shares during the period. Geode Capital Management LLC’s holdings in Diversified Energy were worth $9,952,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of DEC. Goldman Sachs Group Inc. increased its holdings in Diversified Energy by 177.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,187,856 shares of the company’s stock worth $16,060,000 after purchasing an additional 760,428 shares during the period. Woodline Partners LP lifted its holdings in shares of Diversified Energy by 82.2% in the 1st quarter. Woodline Partners LP now owns 680,580 shares of the company’s stock worth $9,201,000 after buying an additional 307,133 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in shares of Diversified Energy during the 1st quarter worth $3,988,000. Pentwater Capital Management LP purchased a new position in shares of Diversified Energy during the first quarter valued at $3,245,000. Finally, Bridgeway Capital Management LLC raised its holdings in shares of Diversified Energy by 85.0% in the first quarter. Bridgeway Capital Management LLC now owns 471,206 shares of the company’s stock valued at $6,371,000 after acquiring an additional 216,486 shares in the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Diversified Energy Stock Up 2.6%

NYSE DEC opened at $15.17 on Thursday. Diversified Energy Company PLC has a 52 week low of $10.08 and a 52 week high of $17.70. The company has a 50 day moving average price of $13.83 and a 200 day moving average price of $14.49. The firm has a market cap of $731.61 million, a PE ratio of 10.32 and a beta of 0.48.

Diversified Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.6%. The ex-dividend date is Friday, February 27th. Diversified Energy’s dividend payout ratio is currently 55.10%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Diversified Energy in a research note on Wednesday, October 8th. Mizuho lowered their price target on shares of Diversified Energy from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Wall Street Zen downgraded shares of Diversified Energy from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Citigroup boosted their price objective on shares of Diversified Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, William Blair assumed coverage on Diversified Energy in a research report on Tuesday, November 18th. They set an “outperform” rating on the stock. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Diversified Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

Diversified Energy 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.