Fmr LLC Acquires New Holdings in Diversified Energy Company PLC (NYSE:DEC)

Fmr LLC purchased a new position in shares of Diversified Energy Company PLC (NYSE:DEC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,787 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors also recently modified their holdings of DEC. M&G PLC grew its stake in shares of Diversified Energy by 5.1% in the third quarter. M&G PLC now owns 1,803,398 shares of the company’s stock worth $20,523,000 after purchasing an additional 87,775 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in shares of Diversified Energy by 77.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock valued at $34,973,000 after buying an additional 1,150,794 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Diversified Energy in the third quarter valued at about $1,486,000. Mackenzie Financial Corp bought a new position in shares of Diversified Energy during the second quarter worth about $820,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Diversified Energy in the second quarter worth approximately $1,983,000. 26.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Truist Financial raised their price target on shares of Diversified Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, November 18th. 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.

Diversified Energy Stock Up 2.9 %

Shares of NYSE DEC opened at $15.93 on Thursday. Diversified Energy Company PLC has a fifty-two week low of $10.54 and a fifty-two week high of $17.05. The firm’s 50-day simple moving average is $14.28 and its 200 day simple moving average is $13.66.

Diversified Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.28%. The ex-dividend date is Friday, February 28th.

About Diversified Energy

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.