Rathbones Group PLC Lowers Stock Position in Diversified Energy Company PLC (NYSE:DEC)

Rathbones Group PLC cut its stake in shares of Diversified Energy Company PLC (NYSE:DEC) by 26.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 505,719 shares of the company’s stock after selling 179,056 shares during the period. Rathbones Group PLC’s holdings in Diversified Energy were worth $6,711,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. 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 worth $34,973,000 after acquiring an additional 1,150,794 shares during the period. M&G Plc acquired a new position in Diversified Energy during the first quarter worth $20,639,000. Allianz Asset Management GmbH acquired a new position in Diversified Energy during the fourth quarter worth $16,390,000. UBS Group AG acquired a new position in Diversified Energy during the fourth quarter worth $15,871,000. Finally, Bank of New York Mellon Corp acquired a new position in Diversified Energy during the second quarter worth $1,983,000. 26.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DEC has been the subject of a number of research analyst reports. KeyCorp initiated coverage on shares of Diversified Energy in a research report on Wednesday, August 28th. They set an “overweight” rating and a $18.00 price objective for the company. Truist Financial increased their target price on shares of Diversified Energy from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, July 22nd.

Diversified Energy Stock Up 2.4 %

Shares of Diversified Energy stock opened at $11.38 on Monday. The stock’s 50 day simple moving average is $13.85 and its 200-day simple moving average is $13.55. Diversified Energy Company PLC has a 1-year low of $10.54 and a 1-year high of $22.30. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.44.

Diversified Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 10.19%. The ex-dividend date of this dividend is Friday, November 29th.

Diversified Energy 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.