Diversified Energy initiated with an Overweight at Stephens

Stephens analyst Mike Scialla initiated coverage of Diversified Energy (DEC) with an Overweight rating and $24 price target The company is well-positioned to continue to generate consistent, double-digit growth and strong returns with a differentiated business model focused on the acquisition and optimization of proved developed producing assets, the analyst tells investors. The firm expects Diversified to keep repurchasing shares while paying “the highest fixed dividend yield in our natural gas group,” the analyst added.