Diversified Energy (NYSE:DEC) Sees Unusually-High Trading Volume – What’s Next?

Shares of Diversified Energy Company PLC (NYSE:DEC) saw unusually-high trading volume on Thursday . Approximately 144,404 shares were traded during 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 a number of recent research reports. KeyCorp began coverage on Diversified Energy in a research note on Wednesday, August 28th. They set an “overweight” rating and a $18.00 price objective on the stock. Truist Financial raised their target price on Diversified Energy from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday.

Diversified Energy Trading Up 0.4 %

The company has a fifty day moving average of $12.18 and a two-hundred day moving average of $13.39.

Diversified Energy Announces Dividend

The company also recently disclosed 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. This represents a $1.16 annualized dividend and a dividend yield of 7.17%. The ex-dividend date of this dividend is Friday, February 28th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. M&G PLC raised its position in shares of Diversified Energy by 5.1% in the 3rd quarter. M&G PLC now owns 1,803,398 shares of the company’s stock worth $20,523,000 after acquiring an additional 87,775 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in Diversified Energy by 77.5% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,634,877 shares of the company’s stock valued at $34,973,000 after purchasing an additional 1,150,794 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Diversified Energy during the 2nd quarter valued at about $820,000. Bank of New York Mellon Corp purchased a new position in shares of Diversified Energy in the 2nd quarter worth approximately $1,983,000. Finally, Creative Planning purchased a new position in shares of Diversified Energy in the 3rd quarter worth approximately $350,000. 26.51% of the stock is owned by institutional investors.

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.