Diversified Energy TR-1

Rhea-AI Summary

Diversified Energy (NYSE:DEC) received a TR-1 major holdings notification showing Barclays PLC crossed a 5.20% voting rights threshold on 24-Mar-2026. Barclays holds 3.41% via direct/indirect shares (2,617,520 rights) and 1.79% via financial instruments (1,101,574 rights), totalling 3,995,580 voting rights. The issuer was notified on 30-Mar-2026 and the filing notes the trading book exemption no longer applies.

Positive

• Threshold crossed at 5.20% total voting rights on 24-Mar-2026
• Shares account for 3.41% (2,617,520 voting rights)
• Transparent instrument breakdown shows 1.79% via financial instruments

Negative

• Trading book exemption no longer applies
• Significant reliance on derivatives: 1.79% of voting rights

News Market Reaction – DEC

-4.70%

13 alerts

-4.70% News Effect

-$63M Valuation Impact

$1.27B Market Cap

0.7x Rel. Volume

On the day this news was published, DEC declined 4.70%, reflecting a moderate negative market reaction. Our momentum scanner triggered 13 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $63M from the company's valuation, bringing the market cap to $1.27B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Direct + indirect voting rights: 5.200000% Voting rights attached to shares: 3.410000% Voting rights via instruments: 1.790000% +5 more

8 metrics

Direct + indirect voting rights 5.200000% Total Barclays position in DEC on threshold-crossing date

Voting rights attached to shares 3.410000% Barclays voting rights via DEC shares (Section 8.A)

Voting rights via instruments 1.790000% Barclays voting rights through financial instruments (Sections 8.B1+8.B2)

Total voting rights held 3,995,580 Total DEC voting rights held by Barclays on crossing date

Indirect voting rights 2,617,520 Indirect voting rights in DEC via ISIN US25520W1071

Right to Recall exposure 1,101,574 voting rights Voting rights obtainable via Right to Recall (8.B1), 1.430000%

Other derivatives exposure 276,486 voting rights Voting rights via CFD, Equity Swap, Portfolio Swap (8.B2), 0.360000%

Barclays total percentage 5.200000% Resulting situation vs previous 0.000000% disclosure

Market Reality Check

Price: $16.74 Vol: Volume 1,265,977 is below...

normal vol

$16.74 Last Close

Volume Volume 1,265,977 is below the 20-day average of 1,754,605 (relative volume 0.72x). normal

Technical Shares trade above the 200-day MA at 14.38, with price at 18.30 and 1.77% below the 52-week high of 18.63.

Peers on Argus

DEC gained 0.77% while key peers declined: CRGY -1.88%, TGS -0.91%, NFG -1.37%, ...

DEC gained 0.77% while key peers declined: CRGY -1.88%, TGS -0.91%, NFG -1.37%, SLNG -5.41%, CVE -2.26%, indicating stock-specific factors rather than a sector-wide move.

Historical Context

5 past events · Latest: Mar 27 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 27	Insider share gift	Neutral	+2.2%	President/CFO gifted 15,000 shares, post-gift holding 212,790 shares.
Mar 25	Proxy materials filed	Neutral	+4.6%	Definitive proxy and notice for virtual 2026 annual meeting.
Mar 20	Management equity vesting	Neutral	-3.5%	PSUs and RSUs vested for multiple PDMRs, increasing share holdings.
Mar 19	Share repurchase	Positive	+8.2%	Company repurchased 300,000 shares for cancellation at $14.20.
Mar 12	Dividend announcement	Positive	-0.4%	Declared Q3 2025 dividend of $0.29 per share, paid Mar 31, 2026.

Pattern Detected

Recent filings and corporate actions (repurchases, dividends, insider equity events) have generally seen aligned or modestly positive next-day price reactions.

Recent Company History

Over March 2026, Diversified Energy issued several routine corporate updates. These included insider equity grants and vesting, a share repurchase of 300,000 shares at $14.20, proxy materials for the May 6, 2026 annual meeting, and a Q3 2025 dividend of $0.29 per share. Price reactions ranged from a -3.46% move on management equity vesting to an 8.22% rise after the buyback announcement, suggesting investors responded most strongly to capital-return actions. Today’s TR-1 adds another ownership-structure disclosure to this sequence.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2026-03-09

An effective S-3ASR shelf dated March 9, 2026 registers resale of 7,501,585 existing shares linked to U.S. domestication and the March 14, 2025 Maverick acquisition. These are being sold by existing holders, and the company will receive no proceeds. As of February 25, 2026, there were 76,070,756 shares outstanding. The company bears specified registration costs and indemnification obligations.

Market Pulse Summary

This announcement details a TR‑1 major‑holdings notification, showing Barclays PLC controlling 5.200...

Analysis

This announcement details a TR‑1 major‑holdings notification, showing Barclays PLC controlling 5.200000% of Diversified Energy’s voting rights via shares and various derivatives. It follows a series of routine corporate updates, including buybacks, dividends, and insider equity awards. Investors may monitor future changes in institutional stakes, usage of the effective S‑3ASR resale registration covering 7,501,585 shares, and additional regulatory filings to track how the shareholder base and float evolve over time.

Key Terms

tr-1, voting rights, financial instruments, cfd, +3 more

7 terms

tr-1 regulatory

"TR-1: Standard form for notification of major holdings 1. Issuer Details"

A TR-1 is a financial form used by investors to report significant ownership stakes in a company, typically when they acquire or dispose of a large number of shares. It helps keep the market informed about major shareholders and potential changes in control, allowing other investors to make better-informed decisions. This transparency encourages fair trading and reduces surprises related to ownership shifts.

voting rights regulatory

"% of voting rights attached to shares (total of 8.A)"

Voting rights are the ability of shareholders to have a say in important company decisions, like choosing leaders or approving big changes. They matter because they give owners a voice in how the company is run, similar to how voters influence elections, ensuring the company acts in shareholders’ interests.

financial instruments financial

"% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)"

Financial instruments are assets or contracts that hold monetary value and can be bought, sold, or traded. They serve as tools for investors to grow, protect, or transfer money, much like how a ticket or voucher can be used to access goods or services. These instruments help individuals and organizations manage financial goals and risks across different markets and economic conditions.

cfd financial

"Type of financial instrument ... CFD | n/a | n/a | Cash | 46921 | 0.060000"

A CFD (contract for difference) is a financial agreement that lets an investor profit from the change in an asset’s price without actually owning that asset — like betting on a car’s value rising or falling without buying the car. It matters because CFDs use leverage, which can amplify gains and losses and allow easy access to different markets, so they change an investor’s potential return and risk profile and can lead to rapid losses if prices move unfavorably.

equity swap financial

"Equity Swap | 24/11/2027 - 13/03/2028 | n/a | Cash | 45328 | 0.060000"

An equity swap is a private financial contract where two parties agree to exchange the gains and losses from a stock or stock index for the cash returns from another investment (like a loan rate or different asset). It lets an investor get the economic benefits or risks of owning a stock without actually holding the shares, similar to trading the fruit harvest from one orchard for the profits of another. Investors use equity swaps to gain exposure, manage risk, take temporary positions, or achieve tax or regulatory goals without buying or selling the underlying stock.

portfolio swap financial

"Portfolio Swap | 01/07/2026 - 04/08/2031 | n/a | Cash | 184237 | 0.240000"

A portfolio swap is an agreement where two parties exchange the returns and cash flows from two bundles of assets so each party effectively takes the performance of the other bundle without buying or selling the underlying holdings. Think of it like swapping two boxes of mixed fruit: you keep your box but agree to receive whatever gains or losses the other box produces, which lets investors change risk, sector or geographic exposure, manage taxes, or adjust liquidity quickly without trading each security.

trading book exemption regulatory

"Barclays Capital Securities Limited (100%) Trading book exemption no longer applies"

A trading book exemption is a regulatory allowance that lets a bank or investment firm treat certain assets as part of its short-term trading portfolio rather than its longer-term lending or investment book, so those assets follow different capital, reporting and risk rules. Investors care because where assets are placed changes how risky and liquid a firm looks, how much capital it must hold against losses, and how volatile reported profits can be—similar to keeping goods on a shop floor versus in long-term storage, which affects insurance, pricing and visibility.

AI-generated analysis. Not financial advice.

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

US25520W1071

Issuer Name

Diversified Energy Company

UK or Non-UK Issuer

Non-UK

2. Reason for Notification 

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation 

Name

Barclays PLC

City of registered office (if applicable)

London

Country of registered office (if applicable)

United Kingdom

4. Details of the shareholder 

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

City of registered office (if applicable)

Country of registered office (if applicable)

5. Date on which the threshold was crossed or reached 

24-Mar-2026

6. Date on which Issuer notified 

30-Mar-2026

7. Total positions of person(s) subject to the notification obligation 

	% of voting rights attached to shares (total of 8.A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)	Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached	3.410000	1.790000	5.200000	3995580
Position of previous notification (if applicable)	0.000000	0.000000	0.000000

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares 

Class/Type of shares ISIN code(if possible)	Number of direct voting rights (DTR5.1)	Number of indirect voting rights (DTR5.2.1)	% of direct voting rights (DTR5.1)	% of indirect voting rights (DTR5.2.1)
US25520W1071		2617520		3.410000
Sub Total 8.A	2617520		3.410000%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

Type of financial instrument	Expiration date	Exercise/conversion period	Number of voting rights that may be acquired if the instrument is exercised/converted	% of voting rights
Right to Recall	n/a	n/a	1101574	1.430000
Sub Total 8.B1			1101574	1.430000%

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

Type of financial instrument	Expiration date	Exercise/conversion period	Physical or cash settlement	Number of voting rights	% of voting rights
CFD	n/a	n/a	Cash	46921	0.060000
Equity Swap	24/11/2027 - 13/03/2028	n/a	Cash	45328	0.060000
Portfolio Swap	01/07/2026 - 04/08/2031	n/a	Cash	184237	0.240000
Sub Total 8.B2				276486	0.360000%

9. Information in relation to the person subject to the notification obligation

2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)

Ultimate controlling person	Name of controlled undertaking	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
Barclays PLC	Barclays Bank PLC
Barclays PLC	Barclays Capital Inc.
Barclays PLC	Barclays Capital Securities Limited

10. In case of proxy voting

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional Information

Full chain of controlled undertaking: Barclays PLC Barclays Bank PLC (100%) Barclays PLC Barclays Bank PLC (100%) Barclays US Holdings Limited (100%) Barclays US LLC (100%) Barclays Group US Inc. (100%) Barclays Capital Inc. (100%) Barclays PLC Barclays Bank PLC (100%) Barclays Capital Securities Limited (100%) Trading book exemption no longer applies

12. Date of Completion 

30-Mar-2026

13. Place Of Completion 

London

FAQ

What stake did Barclays report in Diversified Energy (DEC) on 24-Mar-2026?

Barclays reported a 5.20% total voting rights stake as of 24-Mar-2026. According to Barclays, 3.41% is held via shares (2,617,520 rights) and 1.79% via financial instruments (1,101,574 rights).

How many voting rights does Barclays hold in DEC and how are they split?

Barclays holds 3,995,580 voting rights in total. According to Barclays, 2,617,520 are via direct/indirect shares and 1,101,574 arise from financial instruments and swaps.

When did Diversified Energy receive notification of Barclays crossing the 5.2% threshold (DEC)?

The issuer was notified on 30-Mar-2026 after the threshold was crossed on 24-Mar-2026. According to Barclays, the reporting dates reflect the acquisition or change triggering the TR-1 filing.

What types of financial instruments contribute to Barclays' 1.79% in DEC?

Barclays' 1.79% comprises a Right to Recall, CFDs, equity swaps, and portfolio swaps. According to Barclays, instruments include a right to recall (1.43%) plus CFDs and swaps totaling 0.36%.

Does the TR-1 filing for DEC indicate any change to trading book treatment?

Yes. The filing states the trading book exemption no longer applies for Barclays' holdings. According to the notification, this may affect how positions are classified and reported going forward.