RE: It's Been Baked Beans Since The IPO!15 Dec 2022 21:11
Diversified Energy Company, which has natural gas and oil wells in multiple regions of the US, recently announced an increased dividend to reflect a strong asset performance, higher commodity prices and consistent cash margins. This is on top of an ongoing share buyback programme.
Peel Hunt has a target price of 180p and pointed out that recent updates have been strong. It added: “With low-cost and low-decline production, limited capex, and a strong hedge portfolio, Diversified’s 11% dividend yield is underpinned by one of the sector’s lowest-risk free cash flow profiles.