Swiss National Bank Reduces Position in Diversified Energy Company PLC (NYSE:DEC)

Swiss National Bank reduced its position in shares of Diversified Energy Company PLC (NYSE:DEC) by 2.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,299 shares of the company’s stock after selling 2,217 shares during the quarter. Swiss National Bank’s holdings in Diversified Energy were worth $1,537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DEC. Charles Schwab Investment Management Inc. raised its stake in shares of Diversified Energy by 1.7% during 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 last quarter. FMR LLC bought a new position in Diversified Energy during the 3rd quarter valued at approximately $31,000. SG Americas Securities LLC lifted its holdings in Diversified Energy by 21.1% in the 4th quarter. SG Americas Securities LLC now owns 18,687 shares of the company’s stock worth $314,000 after buying an additional 3,255 shares during the period. Amundi grew its position in shares of Diversified Energy by 8.1% in the 4th quarter. Amundi now owns 48,411 shares of the company’s stock worth $806,000 after buying an additional 3,625 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Diversified Energy by 5.1% during the fourth quarter. Empowered Funds LLC now owns 137,220 shares of the company’s stock valued at $2,305,000 after buying an additional 6,631 shares during the period. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DEC shares. KeyCorp raised their price target on Diversified Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. 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 research report on Monday, January 6th.

Diversified Energy Price Performance

Shares of NYSE:DEC opened at $13.41 on Friday. The stock has a 50 day moving average price of $14.50 and a 200-day moving average price of $14.15. Diversified Energy Company PLC has a 52-week low of $10.72 and a 52-week high of $17.70.

Diversified Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 8.65%. The ex-dividend date of this dividend is Friday, May 30th.

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.