Diversified Energy Company PLC (NYSE:DEC) Short Interest Update

Diversified Energy Company PLC (NYSE:DEC) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 2,610,000 shares, a decline of 5.4% from the August 31st total of 2,760,000 shares. Approximately 5.7% of the company’s stock are short sold. Based on an average trading volume of 418,600 shares, the short-interest ratio is currently 6.2 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DEC. Royal London Asset Management Ltd. acquired a new stake in Diversified Energy during the 4th quarter worth about $25,000. Fund 1 Investments LLC acquired a new stake in shares of Diversified Energy during the fourth quarter worth approximately $56,000. Susquehanna International Securities Ltd. purchased a new position in Diversified Energy during the first quarter valued at approximately $131,000. Virtu Financial LLC acquired a new position in Diversified Energy in the 1st quarter valued at approximately $136,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Diversified Energy in the 2nd quarter worth approximately $189,000. 26.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on DEC shares. KeyCorp began coverage on shares of Diversified Energy in a research note on Wednesday, August 28th. They set an “overweight” rating and a $18.00 target price for the company. Truist Financial decreased their price target on shares of Diversified Energy from $20.00 to $19.00 and set a “buy” rating for the company in a report on Monday.

Diversified Energy Price Performance

Diversified Energy stock traded down $0.22 during midday trading on Monday, hitting $11.37. The company’s stock had a trading volume of 266,049 shares, compared to its average volume of 271,340. Diversified Energy has a 12 month low of $10.54 and a 12 month high of $20.00. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.44 and a quick ratio of 0.48. The stock’s 50-day moving average price is $12.90 and its 200-day moving average price is $13.51.

Diversified Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, November 29th. This represents a $1.16 annualized dividend and a yield of 10.20%.

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.