Diversified Energy (NYSE:DEC) Sees Large Volume Increase – Here’s Why

Shares of Diversified Energy Company PLC (NYSE:DEC) saw an uptick in trading volume on Thursday . 144,404 shares were traded during mid-day trading, a decline of 46% from the previous session’s volume of 265,587 shares.The stock last traded at $16.42 and had previously closed at $16.11.

Analysts Set New Price Targets

DEC has been the topic of several recent analyst reports. KeyCorp assumed 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 raised their price target on shares of Diversified Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, November 18th.

Diversified Energy Trading Down 2.1 %

The business has a fifty day moving average of $12.37 and a 200-day moving average of $13.42.

Diversified Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.32%.

Institutional Trading of Diversified Energy

Several large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC purchased a new stake in shares of Diversified Energy in the 3rd quarter worth about $31,000. FMR LLC purchased a new position in shares of Diversified Energy in the 3rd quarter valued at approximately $31,000. Virtu Financial LLC bought a new stake in shares of Diversified Energy during the first quarter valued at approximately $136,000. Ballentine Partners LLC purchased a new stake in Diversified Energy in the third quarter worth $143,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Diversified Energy in the second quarter worth $189,000. Institutional investors own 26.51% of the company’s stock.

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.