Rhumbline Advisers Takes Position in Diversified Energy Company PLC (NYSE:DEC)

Rhumbline Advisers acquired a new stake in shares of Diversified Energy Company PLC (NYSE:DEC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 68,692 shares of the company’s stock, valued at approximately $927,000. Rhumbline Advisers owned approximately 0.14% of Diversified Energy as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Swiss National Bank purchased a new stake in shares of Diversified Energy during the 4th quarter valued at $1,354,000. UBS Group AG purchased a new stake in shares of Diversified Energy during the 4th quarter valued at $15,871,000. Rathbones Group PLC purchased a new stake in shares of Diversified Energy during the 4th quarter valued at $11,603,000. M&G Plc purchased a new stake in shares of Diversified Energy during the 1st quarter valued at $20,639,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Diversified Energy during the 2nd quarter valued at $1,983,000. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Analyst Upgrades and Downgrades

DEC has been the topic of a number of analyst reports. Truist Financial lifted their target price on shares of Diversified Energy from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. KeyCorp initiated coverage on shares of Diversified Energy in a research report on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 target price on the stock.

Diversified Energy Stock Performance

Shares of NYSE:DEC opened at $11.34 on Tuesday. The company’s fifty day moving average is $13.43 and its 200 day moving average is $13.53. Diversified Energy Company PLC has a 52 week low of $10.54 and a 52 week high of $20.40. The company has a current ratio of 0.44, a quick ratio of 0.48 and a debt-to-equity ratio of 2.69.

Diversified Energy Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 10.23%. The ex-dividend date is Friday, November 29th.

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.