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Diversified Energy Co (DEC) stock

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NYSE: DEC NYSE Oil & Gas Exploration & Production Next results ~November 4, 2026

Diversified Energy Co is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$59

Forward price-to-earnings vs peers

Base case. Range ~$45–$87. Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings.

Price vs value

No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Diversified Energy Co valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds107 adding, 79 cuttingOf 40 active managers that changed their stake, 16 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 68% in the quarter to 2026-06-30.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 32.6% of revenue is left as operating profit.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 206.2% over 90 days.

Things to watch

  • Insiders selling. 1 insiders sold $28M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Heavily shorted. 10.7% of the shares available to trade are sold short (8.7 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.53 against an average estimate of $0.32: beat by 68.5%
Revenue
$812m, up 38.4% on a year earlier
Share reaction
+0.7% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
total Production (Mmcfe/d) 1180 to 1210 (Full Year 2026); % Natural Gas 71% (Full Year 2026)
Next report
November 4, 2026; average EPS estimate $0.49

Diversified Energy's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-4.8%
  • 1 week-4.8%
  • 1 month+2.4%
  • This year+0.9%
  • 1 year+17.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2B
Operating margin
32.6%
Net margin
22.6%

Earnings

Last results
August 5, 2026

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Results
  3. Agreement
  4. Announcement
  5. Deal
  6. Announcement
  7. Leadership
  8. Results
  9. Dividend
  10. Leadership
  11. Guidance
  12. Announcement
  13. Deal

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Diversified Energy Co valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Valuation models

We value Diversified Energy Co as an oil and gas producer, with every model that fits that kind of business. Cost of equity 11.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.39 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Proved-reserve net asset value The SEC standardised measure of the company's proved oil and gas reserves (future net cash flows after tax at SEC average prices, discounted at 10%) less debt and other claims, per share. — Does not apply: no standardised measure of proved reserves in the company's tagged filings
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$59 ~$45–$87 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$88 ~$64–$120 Left out: out of range vs price (6.40x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$73 ~$65–$83 Left out: out of range vs price (5.33x)
Combined value Weighted average of the models that apply: the primary model (proved-reserve net asset value) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$59 ~$45–$87 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Diversified Energy Co with oil and gas producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202320242025
Share price$11.46$14.60$13.62
Market value$544m$701m$1.0bn
+ Net debt (− = net cash)−$4m$1.7bn$3.0bn
Enterprise value$541m$2.4bn$4.0bn
Multiples
Price / sales 0.3x0.9x0.6x
Price / earnings 0.7x—3.0x
Price / free cash flow 2.5x4.2x3.6x
EV / EBITDA 0.4x12.5x4.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $482m and EPS of $0.49 (range $0.24 to $0.78) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.84 −35% $2.0bn +10%
Next $7.40 +161% $2.7bn +33%

Next year's EPS estimate has moved +206.2% in 90 days, across 5 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −10.3% on 90 days ago. In the last 30 days, 1 analyst raised Diversified Energy Co's forecast and 0 cut it.

Consensus EPS forecast Diversified Energy Co, last 90 days
$0.00 $2.00 $4.00 $6.00 $8.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.16 Current fiscal year, 60 days ago: $2.70 Current fiscal year, 30 days ago: $0.96 Current fiscal year, 7 days ago: $3.02 Current fiscal year, Now: $2.84 $2.84 Next fiscal year, 90 days ago: $2.42 Next fiscal year, 60 days ago: $3.28 Next fiscal year, 30 days ago: $3.19 Next fiscal year, 7 days ago: $7.40 Next fiscal year, Now: $7.40 $7.40

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.16$2.42
60 days ago $2.70$3.28
30 days ago $0.96$3.19
7 days ago $3.02$7.40
Now $2.84$7.40

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.32 $0.53 +68.5%
Mar 2026 $0.85 $0.70 −18.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • Total Production (Mmcfe/d) Full Year 2026 1,180 to 1,210
    “Total Production (Mmcfe/d) 1,180 to 1,210” source
  • % Natural Gas Full Year 2026 about 71%
    “% Natural Gas ~71%” source
  • Total Capital Expenditures (millions) Full Year 2026 $225m to $255m
    “Total Capital Expenditures (millions) $225 to $255” source
  • Adj. EBITDA (millions) Full Year 2026 $960m to $1,010m Non-GAAP
    “Adj. EBITDA (b) (millions) $960 to $1,010” source
  • Adj. Free Cash Flow (millions) Full Year 2026 about $440m Non-GAAP
    “Adj. Free Cash Flow (c) (millions) ~$440” source
  • Leverage Target Full Year 2026 2 to 2.5
    “Leverage Target 2.0x to 2.5x” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

10 analysts, Nov 2026
Buy990%
Hold110%
Sell00%

Monthly trend

  1. Nov 20269110
  2. Oct 20269110
  3. Sep 20269110
  4. Aug 20269110

Counts of recommendations published by analysts covering Diversified Energy Co, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.7%
of tradable shares
Days to cover
8.72
at average volume
Short interest, 1 month
−3%
to October 15, 2026
Held by institutions
87%
of shares
Held by insiders
4.6%
of shares
Employees
1,987
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202420252026 to date
Return
DEC+27%−7%+1%
Industry peers (median)+1%−15%+18%
S&P 500+25%+18%+11%
Months that ended higher
DEC58%50%36%
S&P 50075%75%46%
Largest fall from a high during the year
DEC−34%−38%−30%
S&P 500−8%−19%−9%

Worst fall since November 30, 2023: 38% from January 2, 2025 to April 8, 2025. Getting back needed a 61% gain, reached on August 28, 2025, 142 days after the low.

Price behaviour

52-week range
$11.66 – $17.60
From 52-week high
−21.9%
vs 50-day average
−4.5%
vs 200-day average
−2.3%
Volatility (1 year)
39%
Beta vs S&P 500
-0.55

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 1 down
typical move ±4.4%
After a week
2 up, 1 down
typical move ±8.9%
After a month
2 up, 1 down
typical move ±25.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +0.7% −0.4% +8.1% +19.6%
May 6, 2026 −4.8% +1.1% −4.8% −13.8%
February 26, 2026 +7.7% −1.0% +13.8% +42.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 20-F. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Diversified Energy took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.8B
  2. Selling, general and admin $168M · 9.2%
  3. Other operating costs $1.1B · 61.6%
  4. Operating income $535M · 29.2%
  5. Interest and other $194M · 10.6%
  6. Net income $341M · 18.6%

Shares of revenue. Source: Diversified Energy's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1,949 757 1,829 2,005
EBITDA 1,382 195 948 —
Operating income 1,109 −97 535 653
Net income 749 −104 341 453
Diluted EPS $15.76 −$2.17 $4.58 —
Growth (year on year)
Revenue — −61.1% +141.5% —
EBITDA — −85.9% +386.2% —
Operating income — −108.8% — —
Net income — −113.9% — —
Diluted EPS — −113.8% — —
Margins
EBITDA margin 70.9% 25.7% 51.8% —
Operating margin 56.9% −12.8% 29.2% 32.6%
Net margin 38.4% −13.8% 18.6% 22.6%
Free-cash-flow margin 11.1% 22.3% 15.3% —
Cash flow
Cash from operations 291 221 465 —
Capital spending 74 52 185 —
Free cash flow 217 169 280 —
Stock-based pay 6 8 10 —
Free cash flow after stock pay 211 160 270 —
Balance sheet
Cash 4 6 30 8
Total debt 0 1,736 2,985 2,979
Net debt (negative = net cash) −4 1,730 2,956 2,970
Diluted shares 48m 48m 74m —
Returned to shareholders
Dividends 168 84 85 —
Total returned 168 84 85 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 4 checks passed · June 30, 2026
What it owns · $6.1bn
Short-term assets $552mLonger-term assets $5.6bn
What it owes, and who funded it · $6.1bn
Short-term liabilities $970mLonger-term liabilities $4.2bnShareholders' equity $951m
  • Short-term assets cover short-term liabilities $552m of assets due within a year against $970m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $552m short-term assets against $4.2bn of longer-dated liabilities.
  • More cash than debt $8m of cash against $2.9bn of debt.
  • Debt below 40% of shareholders' equity Debt is 308% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Diversified Energy Co's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Days sales outstanding
74 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated DEC TALO NOG CRK KOS CNX Median
Revenue, last 12 months $2.0bn $2.0bn $1.9bn $2.2bn $1.7bn $2.6bn $1.4bn
Revenue growth, last 12 months — 2.4% −25.6% 31.6% 20.9% 47.0% 10.6%
Revenue growth, 3-year average — 12.0% −4.8% −9.0% −0.4% −14.2% 1.4%
Revenue growth, latest quarter 38.4% 56.5% 5.4% −24.9% 31.9% −0.7% 31.9%
Operating margin 32.6% −12.7% −24.1% 28.8% — — 22.4%
Operating margin, 3-year average — −1.9% 17.4% 12.5% — — 16.5%
Net margin 22.6% −20.5% −25.4% 23.3% −27.4% 35.2% 10.4%
Cash from operations / revenue — 39.9% 72.0% 37.6% 28.6% 42.7% 42.4%
Free-cash-flow margin — −8.8% 75.7% −33.8% 28.6% 18.6% 19.3%
Free-cash-flow margin, 3-year average — −5.0% 66.7% −34.0% 28.0% 19.7% 19.1%
Stock pay / revenue — 1.1% 0.8% 1.2% 1.5% 0.9% 1.5%
Change in share count — −5.1% 0.9% 0.9% 15.1% 1.9% 0.4%

Median of all 58 companies we cover in oil & gas exploration & production. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Commodity Revenue $1.5B ▲ 110.1%
Natural Gas Reserves $830M ▲ 78.7%
Oil and Condensate $501M ▲ 327.4%
Natural Gas Per Thous and Cubic Feet $208M ▲ 38.1%
Natural Gas Midstream $40.5M ▲ 24.5%
Other $32.1M ▲ 7.0%

These categories overlap or exclude eliminations, so shares aren't shown.

From Diversified Energy Co's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$706M
Institutions reporting
182
Shares held vs prior quarter
▲ 1.9%
Positions opened / closed
35 / 32

Top buyers and sellers, Q2 2026: 107 institutions bought and 79 sold ; the biggest buyer was State Street Corp (+1.9M shares) and the biggest seller Jane Street Group, LLC (−946K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $80M 5.8M 11.3% ▲ 17.3%
Artemis Investment Management LLP $78.5M 5.7M 11.1% ▲ 4.3%
Ameriprise Financial Inc $63.3M 4.6M 9.0% ▲ 1.1%
State Street Corp $43.4M 3.1M 6.2% ▲ 152.4%
Jupiter Asset Management Ltd $42.9M 3.1M 6.1% ▼ 1.2%
Tejara Capital Ltd $25.3M 1.8M 3.6% ▲ 9.5%
M&G PLC $24.6M 1.8M 3.5% 0.0%
Geode Capital Management, LLC $23.6M 1.7M 3.3% ▲ 14.8%
Man Group PLC $23M 1.7M 3.3% ▼ 17.7%
Citadel Advisors LLC $19.2M 1.4M 2.7% ▼ 9.3%
Millstreet Capital Management LLC $19.1M 1.4M 2.7% 0.0%
American Century Companies Inc $16.9M 1.2M 2.4% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Diversified Energy Co's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $27.9M 1 trade by 1 insider · 0% under pre-set plans
Net ▼ $27.9M net selling
Insider Date Trade Shares Price Value
Wade Randall S. Director January 9, 2026 Sell 2,100,000 $13.28 $27.9M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 26, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 6, 2026
  • February 26, 2026

Recent SEC filings

Data status

When each part of this page on Diversified Energy Co was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Diversified Energy Co in brief

What does Diversified Energy Co do?
Diversified Energy Co is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is Diversified Energy Co's stock ticker?
Diversified Energy Co trades under the ticker DEC on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are Diversified Energy Co's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Artemis Investment Management LLP and Ameriprise Financial Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Diversified Energy Co's market cap?
On December 31, 2025, Diversified Energy Co's market capitalisation was about $1B, with a price-to-earnings ratio of 3.0 and net debt of $3B. Market figures come from third-party market data and may be delayed.
How much debt does Diversified Energy Co have?
Diversified Energy Co's debt-to-equity ratio is 308.3%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Diversified Energy Co's competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to Diversified Energy Co are Talos Energy Inc., Northern OIL & GAS, Inc., Comstock Resources Inc, Kosmos Energy Ltd. and CNX Resources Corp. The side-by-side comparison below sets their revenue, margins and growth against Diversified Energy Co's.
Are insiders buying or selling Diversified Energy Co stock?
Over the last 12 months, Diversified Energy Co's directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Diversified Energy Co's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Diversified Energy Co announces its own schedule.