Diversified Energy (DEC)
Acquires and operates mature U.S. gas, oil, NGL, midstream, and retirement assets.
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Acquires existing long-life wells and related midstream assets, then produces, transports, markets, and retires them across U.S. operating regions. Revenue is concentrated in natural gas and oil, with smaller NGL and midstream lines, and the model depends on acquisition access, emissions control, and well-retirement execution.
Buys existing long-life natural gas, NGL, oil, midstream, and asset-retirement properties instead of building an exploration-led portfolio. Operations sit entirely in the United States, with Appalachia and the Central Region as the main operating areas and smaller assets elsewhere.
Runs the assets through a full-lifecycle model: acquire producing wells, manage field costs and emissions performance, move volumes through associated midstream systems, and plug wells through its retirement platform when they reach end of life.
The business depends on continued access to mature-well acquisitions, commodity markets, capital markets, trained oil-and-gas crews, emissions controls, and reliable retirement economics.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 10, 2026 | Mizuho Securities | Target | Target: $26 | Target: $32 |
| Jul 22, 2026 | Truist Financial | Target | Target: $20 | Target: $17 |
| Apr 15, 2026 | Stephens | Target | Target: — | Target: $24 |
| Apr 9, 2026 | Truist Financial | Target | Target: $18 | Target: $20 |
| Dec 4, 2025 | Johnson Rice | Target | Target: — | Target: $23 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $8.2M · Total debt $2.96B · Total assets $6.11B · Shareholders' equity $950.7M
- Revenue
- $811.9M
- Operating income
- $471.8M
- Net income
- $246.9M
HistoryDividendAnnual yieldUpcoming
| Institutions | ≈ 72.78% | 51.50M shares | |
|---|---|---|---|
| 185 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 13.31% | 9.42M shares | |
| 12 holders · as of Aug 7, 2026 | |||
| Other | ≈ 13.91% | 9.84M shares | |
| remainder | |||
70.77M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Randall S. WadeInsiderdirector | 10.60% | 7.50M | filed Jan 26, 2026 |
BlackRock, Inc.Institution | 8.16% | 5.77M | as of Jun 30, 2026 |
Artemis Investment Management LLPInstitution | 8.02% | 5.68M | as of Jun 30, 2026 |
Ameriprise Financial IncInstitution | 6.46% | 4.57M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.43% | 3.13M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jan 9, 2026 | Randall S. Wade | director | −2,100,000 | $13.28 |
- EQT
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- CNX Resources
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- Gulfport Energy
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- Devon Energy
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- Mach Natural Resources
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Diversified Energy | $13.99 | +0.61% | $1.01B | 1.7 | — | 0.6 | −33.1% |
| EQT | $51.30 | +0.91% | $31.80B | 11.2 | 15.6 | 3.4 | −29.2% |
| Expand Energy | $87.40 | +0.43% | $20.15B | 7.5 | 11.1 | 1.5 | −19.8% |
| Antero Resources | $35.77 | +3.92% | $10.58B | 9.9 | 8.4 | 1.9 | +29.6% |
| Range Resources | $39.17 | +2.22% | $8.95B | 10.6 | 10.7 | 2.7 | +19.1% |
| CNX Resources | $33.34 | +1.60% | $4.85B | 5.4 | 10.0 | 2.0 | −35.7% |
| Gulfport Energy | $161.15 | +1.67% | $2.85B | 6.3 | 6.5 | 1.9 | +3.8% |
| Devon Energy | $48.20 | +2.71% | $51.62B | 11.1 | 9.5 | 2.6 | +83.2% |
| Mach Natural Resources | $10.83 | −0.46% | $1.81B | 19.4 | 7.6 | 1.3 | +74.3% |
| Median | 10.2 | 9.7 | 2.0 | +11.5% |