Diversified Energy (NYSE:DEC) Sees Large Volume Increase – Still a Buy?

Diversified Energy Company PLC (NYSE:DEC) saw an uptick in trading volume on Thursday . 1,520,081 shares traded hands during trading, an increase of 438% from the previous session’s volume of 282,635 shares.The stock last traded at $14.51 and had previously closed at $15.01.

Analyst Ratings Changes

DEC has been the subject of a number of recent analyst reports. KeyCorp boosted their price objective on shares of Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Truist Financial boosted their price target on Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, January 6th.

Diversified Energy Stock Down 4.0 %

The business’s 50 day moving average price is $16.36 and its 200 day moving average price is $14.15.

Hedge Funds Weigh In On Diversified Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Diversified Energy during the third quarter valued at $176,000. Creative Planning purchased a new stake in shares of Diversified Energy during the 3rd quarter valued at about $350,000. Signaturefd LLC bought a new position in shares of Diversified Energy in the 3rd quarter worth approximately $31,000. Mraz Amerine & Associates Inc. boosted its holdings in shares of Diversified Energy by 8.4% in the third quarter. Mraz Amerine & Associates Inc. now owns 117,366 shares of the company’s stock worth $1,336,000 after buying an additional 9,087 shares during the last quarter. Finally, Ballentine Partners LLC bought a new stake in Diversified Energy during the third quarter valued at approximately $143,000. 26.51% of the stock is owned by institutional investors.

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.