Marshall Wace LLP Trims Holdings in Diversified Energy Company PLC (NYSE:DEC)

Marshall Wace LLP reduced its stake in Diversified Energy Company PLC (NYSE:DEC) by 87.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,889 shares of the company’s stock after selling 228,165 shares during the quarter. Marshall Wace LLP owned approximately 0.07% of Diversified Energy worth $457,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC raised its position in Diversified Energy by 28.2% in the second quarter. Brighton Jones LLC now owns 25,034 shares of the company’s stock valued at $338,000 after purchasing an additional 5,501 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Diversified Energy in the 2nd quarter valued at $219,000. Vanguard Personalized Indexing Management LLC acquired a new position in Diversified Energy during the 2nd quarter worth about $189,000. Jupiter Asset Management Ltd. boosted its holdings in Diversified Energy by 77.5% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock valued at $34,973,000 after acquiring an additional 1,150,794 shares during the period. Finally, Rhumbline Advisers acquired a new position in Diversified Energy in the 2nd quarter valued at about $927,000. 26.51% of the stock is owned by institutional investors and hedge funds.

Diversified Energy Price Performance

Diversified Energy stock opened at $11.92 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.44 and a quick ratio of 0.48. Diversified Energy Company PLC has a fifty-two week low of $10.54 and a fifty-two week high of $18.75. The stock has a 50-day simple moving average of $12.30 and a 200-day simple moving average of $13.51.

Diversified Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 9.74%. The ex-dividend date is Friday, November 29th.

Analyst Ratings Changes

A number of research firms have recently weighed in on DEC. KeyCorp assumed coverage on Diversified Energy in a research report on Wednesday, August 28th. They set an “overweight” rating and a $18.00 price objective on the stock. Truist Financial cut their price target on Diversified Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, September 30th.

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.