ProShare Advisors LLC Invests $222,000 in Diversified Energy Company PLC (NYSE:DEC)

ProShare Advisors LLC bought a new position in Diversified Energy Company PLC (NYSE:DEC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,237 shares of the company’s stock, valued at approximately $222,000.

Several other hedge funds have also recently modified their holdings of DEC. Vanguard Group Inc. lifted its holdings in shares of Diversified Energy by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 2,768,108 shares of the company’s stock worth $46,319,000 after buying an additional 468,312 shares in the last quarter. Barclays PLC lifted its holdings in shares of Diversified Energy by 166.9% in the third quarter. Barclays PLC now owns 516,535 shares of the company’s stock worth $5,876,000 after buying an additional 322,986 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Diversified Energy by 687.7% in the fourth quarter. Millennium Management LLC now owns 308,987 shares of the company’s stock worth $5,191,000 after buying an additional 269,759 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Diversified Energy by 112.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 384,689 shares of the company’s stock worth $6,463,000 after buying an additional 203,700 shares in the last quarter. Finally, Yaupon Capital Management LP purchased a new position in shares of Diversified Energy in the fourth quarter worth $2,627,000. Hedge funds and other institutional investors own 26.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on DEC shares. KeyCorp lowered their target price on shares of Diversified Energy from $21.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Mizuho initiated coverage on shares of Diversified Energy in a research note on Thursday, April 10th. They set an “outperform” rating and a $23.00 price target on the stock. Citigroup initiated coverage on shares of Diversified Energy in a research note on Tuesday, April 29th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Wall Street Zen raised shares of Diversified Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.75.

Diversified Energy Stock Down 1.2%

Diversified Energy stock opened at $13.98 on Friday. The firm’s fifty day moving average is $12.79 and its 200 day moving average is $14.45. Diversified Energy Company PLC has a 52-week low of $10.08 and a 52-week high of $17.70.

Diversified Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 8.30%. The ex-dividend date of this dividend is Friday, August 29th.

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.