Diversified Energy Company PLC (NYSE:DEC) Short Interest Update

Diversified Energy Company PLC (NYSE:DEC) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 931,000 shares, a drop of 27.8% from the February 28th total of 1,290,000 shares. Approximately 1.9% of the company’s stock are short sold. Based on an average daily volume of 445,600 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DEC. Invesco Ltd. boosted its holdings in Diversified Energy by 1.7% in the 4th quarter. Invesco Ltd. now owns 39,195 shares of the company’s stock worth $658,000 after buying an additional 638 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Diversified Energy by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,748 shares of the company’s stock valued at $449,000 after buying an additional 934 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Diversified Energy by 4.1% during the 4th quarter. Wells Fargo & Company MN now owns 27,287 shares of the company’s stock valued at $458,000 after buying an additional 1,085 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Diversified Energy by 5.8% in the fourth quarter. MetLife Investment Management LLC now owns 29,267 shares of the company’s stock worth $492,000 after buying an additional 1,597 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Diversified Energy by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 113,408 shares of the company’s stock valued at $1,291,000 after acquiring an additional 1,910 shares during the period. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. KeyCorp upped their price target on Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Truist Financial upped their price objective on Diversified Energy from $21.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, January 6th.

Diversified Energy Stock Up 0.7 %

DEC traded up $0.09 during midday trading on Monday, reaching $13.53. The company had a trading volume of 358,866 shares, compared to its average volume of 334,127. The business has a 50-day moving average price of $14.44 and a two-hundred day moving average price of $14.21. Diversified Energy has a 12-month low of $10.72 and a 12-month high of $17.70.

Diversified Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 8.57%. The ex-dividend date is Friday, May 30th.

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.