Diversified Energy Company PLC (NYSE:DEC) Short Interest Up 22.4% in March

Diversified Energy Company PLC (NYSE:DEC) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,140,000 shares, an increase of 22.4% from the March 15th total of 931,000 shares. Based on an average daily volume of 504,100 shares, the short-interest ratio is presently 2.3 days. Approximately 2.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Diversified Energy

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC purchased a new stake in Diversified Energy in the third quarter worth about $31,000. State Street Corp grew its stake in shares of Diversified Energy by 42.4% during the 3rd quarter. State Street Corp now owns 552,844 shares of the company’s stock valued at $6,291,000 after acquiring an additional 164,728 shares during the period. Jane Street Group LLC purchased a new stake in Diversified Energy in the 3rd quarter worth approximately $384,000. XTX Topco Ltd bought a new stake in Diversified Energy during the 3rd quarter worth approximately $163,000. Finally, Barclays PLC lifted its holdings in Diversified Energy by 166.9% during the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock valued at $5,876,000 after purchasing an additional 322,986 shares in the last quarter. 26.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DEC has been the topic of several research reports. Truist Financial raised their target price on shares of Diversified Energy from $21.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, January 6th. KeyCorp cut their price objective on Diversified Energy from $21.00 to $17.00 and set an “overweight” rating for the company in a report on Monday. Finally, Mizuho initiated coverage on Diversified Energy in a research report on Thursday, April 10th. They set an “outperform” rating and a $23.00 price objective for the company.

Diversified Energy Stock Down 2.4 %

Shares of DEC stock opened at $11.47 on Tuesday. Diversified Energy has a 12 month low of $10.08 and a 12 month high of $17.70. The company has a 50 day simple moving average of $12.84 and a two-hundred day simple moving average of $14.22.

Diversified Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 10.11%.

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.