Diversified Energy Company PLC (NYSE:DEC) Short Interest Update

Diversified Energy Company PLC (NYSE:DEC) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,290,000 shares, a growth of 20.6% from the February 13th total of 1,070,000 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily volume of 397,300 shares, the short-interest ratio is currently 3.2 days.

Diversified Energy Stock Up 0.0 %

DEC traded up $0.01 during trading on Tuesday, reaching $13.07. The company had a trading volume of 585,223 shares, compared to its average volume of 323,199. Diversified Energy has a 52 week low of $10.54 and a 52 week high of $17.70. The business has a 50 day simple moving average of $15.00 and a 200-day simple moving average of $14.08.

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 issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 8.88%.

Institutional Trading of Diversified Energy

Institutional investors have recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. bought a new position in shares of Diversified Energy during the third quarter valued at approximately $235,000. Empowered Funds LLC purchased a new stake in Diversified Energy in the third quarter worth $1,486,000. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 1,910 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Diversified Energy by 3,058.5% during the third quarter. The Manufacturers Life Insurance Company now owns 717,585 shares of the company’s stock worth $8,101,000 after purchasing an additional 694,866 shares during the last quarter. Finally, FMR LLC purchased a new stake in shares of Diversified Energy during the third quarter valued at $31,000. Institutional investors own 26.51% of the company’s stock.

Analysts Set New Price Targets

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

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.