Diversified Energy Company PLC (NYSE:DEC) Sees Large Decrease in Short Interest

Diversified Energy Company PLC (NYSE:DEC) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 1,660,000 shares, a drop of 7.8% from the November 15th total of 1,800,000 shares. Currently, 3.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 271,800 shares, the days-to-cover ratio is currently 6.1 days.

Hedge Funds Weigh In On Diversified Energy

Several institutional investors have recently bought and sold shares of DEC. Bank of New York Mellon Corp purchased a new stake in shares of Diversified Energy during the 2nd quarter valued at about $1,983,000. Mraz Amerine & Associates Inc. increased its stake in Diversified Energy by 1.9% during the second quarter. Mraz Amerine & Associates Inc. now owns 108,279 shares of the company’s stock worth $1,461,000 after acquiring an additional 2,044 shares during the last quarter. Rhumbline Advisers purchased a new stake in Diversified Energy during the second quarter valued at approximately $927,000. Jupiter Asset Management Ltd. raised its position in Diversified Energy by 77.5% during the second quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock valued at $34,973,000 after purchasing an additional 1,150,794 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Diversified Energy in the 2nd quarter valued at approximately $189,000. Institutional investors own 26.51% of the company’s stock.

Diversified Energy Stock Performance

NYSE DEC opened at $15.66 on Wednesday. Diversified Energy has a 1-year low of $10.54 and a 1-year high of $18.05. The business has a 50 day simple moving average of $13.93 and a two-hundred day simple moving average of $13.62.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date of this dividend is Friday, February 28th.

Analyst Ratings Changes

Several equities analysts have recently commented on DEC shares. KeyCorp initiated coverage on shares of Diversified Energy in a report on Wednesday, August 28th. They issued an “overweight” rating and a $18.00 target price on the stock. Truist Financial boosted their price target on shares of Diversified Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, November 18th.

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.