Diversified Energy (NYSE:DEC) Earns Buy Rating from Analysts at Truist Financial

Truist Financial initiated coverage on shares of Diversified Energy (NYSE:DEC) in a research report report published on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $18.00 target price on the stock.

Diversified Energy Price Performance

Shares of NYSE:DEC opened at $13.50 on Tuesday. Diversified Energy has a 52 week low of $10.54 and a 52 week high of $26.00. The firm has a 50 day moving average price of $14.09. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.83.

Diversified Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 8.59%. The ex-dividend date is Friday, August 30th.

Hedge Funds Weigh In On Diversified Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Diversified Energy during the fourth quarter worth about $190,000. Swiss National Bank acquired a new position in Diversified Energy during the fourth quarter worth approximately $1,354,000. M&G Investment Management Ltd. purchased a new stake in Diversified Energy in the fourth quarter valued at approximately $36,507,000. UBS Group AG acquired a new stake in shares of Diversified Energy in the fourth quarter valued at approximately $15,871,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of Diversified Energy during the fourth quarter worth approximately $16,390,000. 26.51% of the stock is owned by institutional investors and hedge funds.

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.