Diversified Energy (NYSE:DEC) Trading Down 6.1% – What’s Next?

Shares of Diversified Energy Company PLC (NYSE:DEC) traded down 6.1% on Wednesday . The company traded as low as $15.88 and last traded at $15.70. 89,462 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 213,149 shares. The stock had previously closed at $16.73.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. KeyCorp raised their target price on Diversified Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Truist Financial raised their target price on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a report on Monday, January 6th.

Diversified Energy Trading Down 9.5 %

The stock has a 50-day moving average of $16.39 and a 200 day moving average of $14.14.

Institutional Trading of Diversified Energy

A number of institutional investors and hedge funds have recently modified their holdings of DEC. Signaturefd LLC purchased a new stake in shares of Diversified Energy during the third quarter valued at approximately $31,000. FMR LLC purchased a new stake in Diversified Energy in the third quarter worth $31,000. Ballentine Partners LLC purchased a new stake in Diversified Energy in the third quarter worth $143,000. XTX Topco Ltd purchased a new stake in Diversified Energy in the third quarter worth $163,000. Finally, Quantinno Capital Management LP purchased a new stake in Diversified Energy in the third quarter worth $167,000. 26.51% of the stock is owned by hedge funds and other institutional investors.

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.