Share Name Share Symbol Market Type Share ISIN Share Description
Diversified Gas & Oil Plc LSE:DGOC London Ordinary Share GB00BYX7JT74 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 110.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
109.50 110.00 0.00 0.00 0.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 227.23 205.29 40.78 2.7 730
Last Trade Time Trade Type Trade Size Trade Price Currency
21:41:51 O 11,593 109.929 GBX

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Diversified Gas & Oil (DGOC) Discussions and Chat

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Date Time Title Posts
13/10/201916:25Diversified Gas & Oil1,359
24/7/201814:01Diversified Gas & Oil (DGOC) One to Watch -

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Diversified Gas & Oil (DGOC) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2019-10-15 16:21:36110.001,6491,813.90O
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Diversified Gas & Oil (DGOC) Top Chat Posts

Diversified Gas & Oil Daily Update: Diversified Gas & Oil Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker DGOC. The last closing price for Diversified Gas & Oil was 110p.
Diversified Gas & Oil Plc has a 4 week average price of 103.50p and a 12 week average price of 94.80p.
The 1 year high share price is 135p while the 1 year low share price is currently 94.80p.
There are currently 663,635,779 shares in issue and the average daily traded volume is 566,894 shares. The market capitalisation of Diversified Gas & Oil Plc is £729,999,356.90.
kenmitch: I agree that Next are a good example of how to do buybacks in that they only do them when thinking the shares are too cheap. Most Companies buyback without considering whether they are doing them at a sensible price. Unfortunately it’s impossible to prove that buybacks work, because with successful Companies like Next their share price would increase over time whether or not they bought back their shares. And where the share price subsequently fell after and during buybacks it’s likely the share price would have fallen anyway. Btw....even Next have come unstuck with buybacks sometimes. E,g after buying back in the £60s the share subsequently fell to £36. I bought at £38, and feel even with Next I have been far better “rewarded̶1; than shareholders who bought in the £60s and perhaps encouraged to do so by positive comment then about Next buyback policy.
kenmitch: Yes; buybacks reward Directors if bonus based on eps, and very often those shareholders who sell ahead of a buyback programme. News of a buyback usually gives the share a lift on the day it’s announced, and investors who sell then often do well. If, as happens more often than not, the share price goes lower during a buyback programme, then those who stay invested lose, while those who sold are out at a higher price. There are endless such examples. Have a look at Standard Life Aberdeen. Relentless falls all the while they were buying back, with share 30% lower than at the start. And guess what? They are going to start another buyback programme! Buybacks DO mean eps higher than they would have been if not buying back, but if the business is not doing well, or investors sell, that does not guarantee a higher share price. Where buybacks are worth doing DOES apply with DGOC. That’s to hit shorters IF there is a dubious blog or other damning unjustified attack. That applied with Paysafe. They responded to a totally spurious attack by buying back....and after that they went to a much higher price after a bid. IF that DGOC blog is also spurious then current buyback justified. Finally the nonsense spouted on so many bbs and in the Press that buybacks mean a higher share price would mean that all investors had to do to ensure a successful investment would be to buy shares only in Companies buying back to win every time. If only it was that easy!
lab305: Well whatever those Sharescope numbers are they certainly are not official. Obviously just a prediction probably based on the share price performance over the last two the program watches the share price dropping and then bases a year end profit prediction on that. Since the half year results were excellent it would take a collapse of some proportion to make that happen for which we have seen no evidence .
kenmitch: gisjob2 Buybacks do NOT always support the share price There are many examples where Companies bought back their shares and the share price fell a lot all the while they were buying back. e.g check out Hammerson and Standard Lfe/Aberdeen to see how their share prices collapsed after buybacks. After wasting over £100 million pointlessly buying back,Hammerson abandoned their £300 million buyback when at last it must have dawned on them that their buybacks were a waste of money.The share from memory, fell £several by the time they abandoned them. Buying back DOES mean eps goes higher than it would have been without buybacks, and Company Managers often get bonus pay based on eps, so that’s one reason they go for buying back! But buybacks often reward shareholders who SELL ahead of the buybacks and who sell ahead of subsequent share price falls, and NOT those who stay with the Company, and who are supposedly being rewarded with the buybacks. Instead they stay in while the share price falls. As is happening with DGOC right now! So the comment in the post above this one that everyone ends up rewarded/benefits, is also wrong. IF buybacks are done at a bargain price (as is always the case with Next) then more often than not shareholders are rewarded. But many Companies, just like the posters who blindly assume they are always good, haven’t a clue how best to go about them.
kenmitch: lab305. No. I wasn't saying the share price will always drop. Sometimes share prices of companies buying back go up. Question is would they have gone up anyway? Same question applies when the share price goes down. Buybacks don't provide ANY support when that Company subsequently goes bust! e.g the banks 10 years ago. They had bought back £billions between them. Point taken about tax, but isn't a way round that to maximise tax free opportunities like ISAs?
kenmitch: Share buybacks do not put a floor under the share. If they did investors in every share buying back would have a guaranteed way of making a profit! There are many examples of share prices falling even when a Company buys back day after day. e.g Standard Life Aberdeen started their buybacks around 350p and the share was down to 220p before their buybacks were completed. Not sure a very modest buyback will help DGOC share price, but it will make it a bit less costly to pay future dividends. Just hope they continue with progressive divi policy. Current divi yield is already very good though!
carcosa: I think a far more logical explanation to the share price action is that when the short was closed it drove the share price up from 118p and subsequently the share price has returned toward that level.
kenmitch: I guess a key reason for incredibly disappointing share price is the very large number of wells to be plugged/decommissioned. Around 30 wells to be plugged this year and cost for each well around $24’000.And then 20 or so a year thereafter and also dispose of 50 a year. So it could be the anticipated costs of doing this are currently hitting share price performance. But big dividend increases strongly suggest DGOC are confident these costs are manageable and once market realises that and/or on next good news/acquisition update, the share really should recover strongly. I’m very happy to wait for that and collect the big and growing quarterly dividends while waiting. Another reason for low share price could well be DGOC being under the radar....for now... for many investors. And it seems few really understand this Company. fwiw Ithink the share is a real bargain at current price.
kenmitch: Ditto Plootocrat. I’m not concerned about Institutional selling and agree with Carcosa on that. My question, still not answered, is on an important technical point that as an experienced investor I should know! i.e what will be the effect on the share price when the placing shares start trading on July 17th. There are a lot of extra shares to be absorbed. With a rights issue this is factored in and the share price marked down accordingly on the day the share goes ex rights. This does not happen with a placing and usually there is not this long delay before the placing shares are added and trading. I’ve only a half stake in DGOC and am keen to add, as dividend news alone appeals and high chance of good share price gains too, as long as future acquisitions are as wise. What I don’t want to do is add now only to find I could buy significantly lower on July 17th. My instinct is to assume little if any change in the share price then as if that was likely it would be getting priced in now. But would like to be 100% sure. So maybe a daft question but can someone confirm please?
bluerunner: Has anyone noticed in the past few days how DGOC share price appears to move out-of-sync to the trades?I.e. When there appear to be buyers, it goes down. And vice versa. Strange.
Diversified Gas & Oil share price data is direct from the London Stock Exchange
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