Bank of New York Mellon Corp Sells 1,614 Shares of Diversified Energy Company PLC (NYSE:DEC)

Bank of New York Mellon Corp decreased its stake in shares of Diversified Energy Company PLC (NYSE:DEC) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 106,357 shares of the company’s stock after selling 1,614 shares during the quarter. Bank of New York Mellon Corp owned about 0.22% of Diversified Energy worth $1,787,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DEC. Charles Schwab Investment Management Inc. boosted its position in shares of Diversified Energy by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 113,408 shares of the company’s stock worth $1,291,000 after acquiring an additional 1,910 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Diversified Energy by 3,058.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock worth $8,101,000 after buying an additional 694,866 shares in the last quarter. FMR LLC purchased a new position in shares of Diversified Energy in the 3rd quarter worth $31,000. MetLife Investment Management LLC grew its stake in shares of Diversified Energy by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 27,670 shares of the company’s stock worth $315,000 after buying an additional 15,591 shares in the last quarter. Finally, PDT Partners LLC grew its stake in shares of Diversified Energy by 231.4% in the 3rd quarter. PDT Partners LLC now owns 45,386 shares of the company’s stock worth $516,000 after buying an additional 31,690 shares in the last quarter. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Price Performance

Shares of NYSE:DEC opened at $13.24 on Friday. Diversified Energy Company PLC has a 52 week low of $10.72 and a 52 week high of $17.70. The firm has a fifty day simple moving average of $14.81 and a two-hundred day simple moving average of $14.09.

Diversified Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.76%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on DEC shares. Truist Financial lifted their price objective on shares of Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. KeyCorp lifted their price objective on shares of Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th.

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.