Mizuho Initiates Coverage on Diversified Energy (NYSE:DEC)

Analysts at Mizuho began coverage on shares of Diversified Energy (NYSE:DEC) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $23.00 price target on the stock. Mizuho’s price target would suggest a potential upside of 105.98% from the company’s previous close.

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

Diversified Energy Price Performance

NYSE:DEC opened at $11.17 on Thursday. The business’s 50-day simple moving average is $13.46 and its two-hundred day simple moving average is $14.20. Diversified Energy has a 52 week low of $10.08 and a 52 week high of $17.70.

Institutional Trading of Diversified Energy

Hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp increased its holdings in shares of Diversified Energy by 11.7% in the 4th quarter. Mackenzie Financial Corp now owns 100,797 shares of the company’s stock worth $1,693,000 after buying an additional 10,594 shares during the last quarter. Woodline Partners LP purchased a new position in Diversified Energy in the fourth quarter worth about $6,274,000. Thomist Capital Management LP bought a new stake in Diversified Energy during the fourth quarter worth approximately $547,000. ProShare Advisors LLC purchased a new stake in Diversified Energy during the fourth quarter valued at approximately $222,000. Finally, Quantinno Capital Management LP lifted its stake in shares of Diversified Energy by 197.4% in the 4th quarter. Quantinno Capital Management LP now owns 43,815 shares of the company’s stock valued at $736,000 after purchasing an additional 29,084 shares during the last quarter. 26.51% of the stock is owned by hedge funds and other 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.