Citigroup Has Lowered Expectations for Diversified Energy (NYSE:DEC) Stock Price

Diversified Energy (NYSE:DEC) had its price target dropped by equities research analysts at Citigroup from $19.00 to $16.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 19.54% from the company’s previous close.

Several other brokerages also recently issued reports on DEC. Stephens assumed coverage on Diversified Energy in a report on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 price target for the company. Jefferies Financial Group upgraded Diversified Energy to a “hold” rating in a report on Friday, July 10th. KeyCorp boosted their price objective on Diversified Energy from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Weiss Ratings cut Diversified Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Truist Financial dropped their target price on shares of Diversified Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.17.

Diversified Energy Stock Performance

Shares of Diversified Energy stock opened at $13.38 on Tuesday. The stock’s fifty day simple moving average is $14.06 and its 200 day simple moving average is $14.46. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.57. The company has a market capitalization of $968.00 million, a PE ratio of 3.80 and a beta of -0.40. Diversified Energy has a 12 month low of $12.33 and a 12 month high of $18.90.

Institutional Investors Weigh In On Diversified Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EIG Asset Management LLC acquired a new position in Diversified Energy during the 4th quarter worth approximately $139,031,000. Ameriprise Financial Inc. raised its holdings in shares of Diversified Energy by 11.8% in the third quarter. Ameriprise Financial Inc. now owns 4,108,991 shares of the company’s stock valued at $57,567,000 after purchasing an additional 435,222 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Diversified Energy in the fourth quarter worth $46,334,000. Artemis Investment Management LLP lifted its position in shares of Diversified Energy by 114.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,595,577 shares of the company’s stock worth $37,555,000 after purchasing an additional 1,384,073 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in Diversified Energy by 47.6% during the third quarter. Citadel Advisors LLC now owns 2,379,205 shares of the company’s stock worth $33,333,000 after purchasing an additional 767,378 shares during the last quarter. Institutional investors and hedge funds own 26.51% of the company’s stock.

About Diversified Energy

Diversified Energy Company PLC (NYSE: DEC) is an independent oil and natural gas producer focused on the acquisition and optimization of legacy onshore assets in the United States. The company’s portfolio spans thousands of producing wells and extensive leasehold positions across core regions such as Appalachia, the Permian Basin and the Mid-Continent. By targeting mature properties, Diversified Energy seeks to enhance long-term recovery through operational efficiencies and capital discipline.

The company’s business model centers on fee-based infrastructure and midstream services that provide stable and predictable cash flows.