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DEC Diversified Energy Company Plc

948.00
55.50 (6.22%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Diversified Energy Company Plc LSE:DEC London Ordinary Share GB00BQHP5P93 ORD 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  55.50 6.22% 948.00 944.50 946.50 952.00 895.00 897.50 420,088 16:35:19
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 1.92B -625.41M -12.9810 -0.73 455.77M
Diversified Energy Company Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker DEC. The last closing price for Diversified Energy was 892.50p. Over the last year, Diversified Energy shares have traded in a share price range of 822.50p to 1,984.00p.

Diversified Energy currently has 48,178,835 shares in issue. The market capitalisation of Diversified Energy is £455.77 million. Diversified Energy has a price to earnings ratio (PE ratio) of -0.73.

Diversified Energy Share Discussion Threads

Showing 526 to 550 of 10150 messages
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DateSubjectAuthorDiscuss
13/7/2021
20:56
aps5

because of the hedging (which I support) it is not so much top line revenue, but revenue after hedging. Financing is substantially fixed interest.

The share price reflect the market's view. I tend to buy when I think the market undervalues a stock. Hence I have bought more recently.

johnhemming
13/7/2021
18:28
The First Berlin 14 June report shows the dividend as a % of FCF will rise - 2021 48% 2022 52% this included Blackbeard and Indigo in full. The figures will need revising for the Tanos acquisition and reduction in Indigo.

What it highlights is the jump in FCF being used to pay dividends. Ideally the company should keep it around the 40% especially if funds are needed for further acquisitions.
Also the Adjusted EBDITA (hedged) remains somewhat flat ($000s) 2020Act 300,590 2021Est 329,542 2022Est 317,487

scrwal
13/7/2021
17:09
Interesting JH, but surely the gas price reflects more a link to top line revenue. It does not really link to costs (operations, financing etc.) and its really the delta between revenue and costs that the share price is reflecting? especially given DEC target to distribute 40% FCF - is it not this delta that is index linked?
asp5
13/7/2021
16:42
I take a different view on valuation in that the dividend is actually to some extent index linked (it is obviously linked to the price of gas). Hence it should be seen as at least partially an index linked bond in one way.
johnhemming
13/7/2021
16:19
My take on the current share price weakness is as follows:

DEC is really an income stock play so is driven by dividend per share (dps)
Given 16c per share divi and a 10% yield premium this equates to a $1.60 target price
Taking the exchange rate into account this is approx. 1.14 GBP target

In my view the yield premium that covers the inherent ESG sector risk for DEC is something that will fluctuate over time.

We have also had a share dilution but not yet seen/received the benefit of an increased dividend from the deals closed. Once the accretive nature of the acquisitions is reflected in the divi then I expect the price to move back north accordingly.

In addition until an increased divi is demonstrated there will always be a execution risk concern that the share dilution could impact previously strong dps growth.

While not happy - I am comfortable with the current market movements.

asp5
13/7/2021
12:39
desha,

No doubt that's a factor overall - after all why bother to change the name from DGOC to DEC otherwise - but that's been going on a long time now, why'd it happen from January in DEC's case?

cassini
13/7/2021
10:26
CASSINI12 Jul '21 - 22:09 - 485 of 491

Investors moving away from O&G companies, with the inherent ESG risks in that sector?

desha
13/7/2021
09:55
Thanks for posting the other 4 anyway which I couldn't see due to the paywall.
bountyhunter
13/7/2021
09:52
Sorry, that was an old article from 27 January 2021 (hence the old name).
plutonian
13/7/2021
09:49
Vodafone, Strix, Emis, Henry Boot
plutonian
13/7/2021
09:40
Good to see DEC promoted in the Telegraph.

What were the other four?

bountyhunter
13/7/2021
09:33
In the Telegraph today (edit 27 January 2021)...

Five British stocks you can rely on for dividends this year

...
Diversified Gas & Oil

This £810m oil minnow operates wells in the Appalachian Basin in the US and has grown rapidly over the past few years, which has led to sizeable improvements in its profit margin and cash flow.

Unlike more speculative options, Diversified Gas & Oil is not focused on the discovery of new projects but the management of mature, existing wells that large operators have discarded.

“With production hedged two years out, cash flow is secure and this amply covers the 10pc dividend yield,” said Mr Morrison. The dividend was raised in 2020, marking eight consecutive increases since the company listed.
...

plutonian
12/7/2021
21:29
I will go for No 1......its the fear of another placing on the way.
11_percent
12/7/2021
21:09
Possibles:

(1) The market is discounting another share dilution for another acquisition
(2) Someone is disposing of a lot of these (perhaps from the last share dilution -
though with a 112p placing that would be at a loss?) and we won't recover until
the overhang goes away
(3) Overall stock market weakness is weighing on the share price

Anyone think of anything else?

cassini
12/7/2021
21:01
NATURAL GAS 3.749 +0.075 +2.04%
Complete disconnect now between gas prices and the share price. Cenkos note favourable , latest deal looks very good , Oaktree finally involved and we continue to drop.
95p ? why not 75p or even 55p, all figures just as ludicrous in my view as the 102p that we are sitting at .
Even those gloating at having got cheap placing shares are now losing 8%. The complacency shown at the situation is breathtaking and I have yet to read a reasonable explanation. No predicted recovery has occurred nearly eight weeks after the fundraising.

lab305
12/7/2021
06:31
Cenkos have updated forecasts

EBITDA hedged (USDm)
2021 old: 339 new 344.7 2022 old: 392.5 new: 482.6
The reason for the small difference in 2021 (I guess) relates to buying the assets including hedges that are USD24m under the water. (and its part way through the year)

johnhemming
11/7/2021
19:14
Looking to add as well - looking very tempting at the moment.

I don't think we'll see 95p this quarter as the next ex-divi date is 02/09 and there's (usually) strength in the run up to that but stranger things have happened...

cassini
09/7/2021
07:25
Seems counter-intuitive; however looks to be in a downtrend, with a possibility of further weakness to 95p. Will add - but not just yet!


free stock charts from uk.advfn.com

skyship
09/7/2021
03:02
As a long term expat I do not have access to ISAs or SIPPs so I guess my compensation is tax free dividends. Makes for a nice return though!
andyj
09/7/2021
00:21
lab305,

I get it, dividends don't make up for capital erosion. Nothing we can do about it though is there except bail out and take our loss if we think we're being stiffed. I happen to believe the present situation is temporary and we all just have to suffer it for a while. There is no profit without risk.

This is why getting a good price entry point is essential.

I've traded these twice and my average price this time around is £1.12 so I'm underwater too, but not by so much as you obviously. Despite DEC warning of 2021 acquisitions in January (and the market clearly punishing the price back then) I didn't fully visualise the way DEC would do it and got caught out.

I'm still ahead on DEC overall though as if you look at the chart you will see a quarterly pattern of rises and falls, which I have traded before.
You may (no advice intended) have a chance to redeem your position soon, all things being equal, if we get the usual rise around the next dividend. Nothing is guaranteed though.

The choice would then be yours whether to sell out on any acceptable pre-divi rise and hope for the usual fall over the following 4-6 weeks when you may be able to buy back in at a much better price entry point, or take the divi and suffer the disproportionate price sag that usually follows it.

I'm going to try this approach again if the price reaches a level where I think the risk/reward is acceptable to me. We'll see in the next four weeks.

cassini
08/7/2021
22:36
CASSINI if you had seen the share at 1.28 earlier this year and then bought at 1.21 as they stabilised then you may not be so relaxed. Sure I have had 2.4p back but it's performance is just not good enough. The placing was a disaster in my view undermining existing holders and instilling fear in them that they may repeat the exercise. I know that I am in a minority of one on here but we are nearly all holders and want the company to prosper. Growth at the expense of the share price is not acceptable.
lab305
08/7/2021
21:23
Fardels Bear,

Don't forget, 25% of a SIPP is tax-free, either as an initial lump sum when the SIPP starts to be drawn down (if that is the term I'm looking for) or as 25% of each withdrawal as long as the SIPP exists.

Then the income tax on a SIPP when you draw it down is effectively 15%, notwithstanding any unused personal tax allowance (everyone on ADVFN seems to be more worried about the upper tax bracket than the personal tax allowance level).

That's my understanding anyway.

cassini
08/7/2021
21:16
Something that pays out nearly 11% ought not to be thought of as a growth stock IMO.
I'd be happy if the DEC price just kept pace with inflation at this yield...

cassini
08/7/2021
19:54
Gary - I see I posted this back on 4th Jan when they were still DGOC:
=====================================================================

Re DGOC - has seen a good recovery whilst paying that great yield. However, as the chart shows, the share price is now in the 105p-120p range of very congested resistance. Implies limited upside from here - though certainly pays its way:


free stock charts from uk.advfn.com

skyship
08/7/2021
18:06
Interesting point. Is it better to hold these in an ISA and pay 15% withholding tax and then nothing ever again in terms of tax, or is it better put them in a sipp and pay 20% income tax when you want to draw it out?If you put it in a sipp, then it compounds faster, whereas in an ISA it wouldn't compound as fast because of the initial tax charge..
fardels bear
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