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
  -1.60 -1.52% 103.40 1,265,559 16:35:16
Bid Price Offer Price High Price Low Price Open Price
103.40 103.60 104.80 101.60 104.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 348.56 99.15 11.31 8.8 731
Last Trade Time Trade Type Trade Size Trade Price Currency
17:46:25 O 9,383 103.81 GBX

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Date Time Title Posts
21/9/202021:26Diversified Gas & Oil - High Dividend Yield65
18/9/202017:27Diversified Gas & Oil1,812
14/8/202016:53DGOC - Webinar-
20/2/202011:40Diversified Gas & Oil (DGOC) One to Watch 1
05/1/202000:28DGOC Edison Analysis1

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Diversified Gas & Oil (DGOC) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-09-21 18:09:30103.40662,717685,249.38O
2020-09-21 16:46:25103.819,3839,740.49O
2020-09-21 16:07:06104.415,0435,265.25O
2020-09-21 15:59:23103.4010,22310,570.28O
2020-09-21 15:39:39103.403,1883,296.39AT
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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 105p.
Diversified Gas & Oil Plc has a 4 week average price of 101.40p and a 12 week average price of 92.40p.
The 1 year high share price is 117p while the 1 year low share price is currently 55.20p.
There are currently 707,217,593 shares in issue and the average daily traded volume is 11,900,751 shares. The market capitalisation of Diversified Gas & Oil Plc is £731,262,991.16.
lord gnome: Not necessarily lab305. Some index trackers do not hold an exact replica of the shares that make up the index. Similarly, some funds are synthetic and use derivatives to replicate the index. I doubt that there are that many FTSE250 index tracking funds that need to hold the shares to exactly replicate the index. I would also doubt that the promotion has sparked a buying fenzy - looking at the share price it certainly hasn't moved the dial today. Just my personal view. I've seen it before when people have thought that an index promotion would automatically trigger buying and it hasn't happened. Don't ask me to remember which shares were involved though :-((
spangle93: Latest Edison review hTTps:// Our updated base case valuation stands at 139.8p/share, up from 125.4p/share, on inclusion of updated EIA gas price forecasts from 11 August 2020,and updated operating costs based on H120 results and reflecting the impact of the Carbon and EQT asset acquisitions. We also update DGO’s hedging portfolio and dividend distribution. We forecast a FY20 dividend yield of 10.6%atthe current share price
lew stules: It's a win win scenario here IMO Either collect a decent regular dividend or benefit from an increase in the share price and reduced dividend. As long as they can continue with a policy of returning funds to shareholders what is not to like?
tim000: Do people really trade shares pre- and post- the xd date? Obviously the share price fully adjusts for the divi once the share goes xd. Anyone paying tax on the divi would lose out by trading the share. I agree about the gas price - the note pro kindly provided a link to highlights the rise in the henry hub price recently for an upward revision of fair value to £1.50.
pro_s2009: Definitely agree with the Shares Mag summary, but look further ahead. DGOC is conventional. The big rundown of unconventional shale oil (and the associated produced shale gas) is going to seriously re-rate the gas price. Gas currently is perhaps one third of the price it should be, so there is ahead the likely potential of a tripling of the gas price. If you take a 3 year view to your DGOC holding, one should expect a very healthy dividend every year and potentially a 200% share price rise in the process. Makes it very attractive imo.
pro_s2009: Diversified Gas & Oil Interims from DGO this morning, preceded by the announcement that the dividend for the quarter was to be 3.75c (3.5c) a 7% increase making the payment for the first half of 7.25c and giving DGO a yield of 12%… The results were predictably good, production was 95.1 MBoepd up 26% (1H 2019 75.3 MBoepd) but the exit rate was 109.0 MBoepd including 18.7 MBoepd from the EQT and Carbon Energy acquisitions completed in May. In the first half legacy assets were maintained at ˜70 MBoepd for the 8th consecutive quarter, a tremendous achievement. 1H adjusted EBITDA of $146m (+11% on 1H ’19 3% on 2H 19) gave net income of $18m leading to a net operating loss of $(31) million (1H19: -129% vs $108 million; 2H19: -142% vs $73 million) ‘includes a $110 million non-cash charge to mark derivative contracts to fair value’. Cash operating expenses fell again to $7.05/boe, down 15% on 1H 2019 of $8.30 and $7.24 in 2H 2019. During the quarter DGO transitioned to the Premium Segment of the Main Market of the London Stock Exchange from AIM and also completed upstream and midstream asset acquisitions from EQT ($125 million) and Carbon ($110 million) in May financed through a successful $86 million (gross) share placing and $160 million (gross) amortising 10-year term loan underwritten by Munich Re Reserves Risk Financing, Inc. On the conference call the DGO management were sprightly and so they deserved to be, they reminded the audience of the four key tenets which drive the company led by the 55% adjusted EBITDA cash margin. This is made possible by a robust, nay aggressive hedging programme ‘to protect downside’, all enabled by low cash Opex and G&A costs of $7.05/boe, and an average 2020 hedge floor of $2.69/MMBtu. The free cash flow yield of 32% comes back to that 8 quarter stable, hedged production I mentioned earlier, which as the CEO pointed out means that this cash generation means that the shares must be too cheap, something one can only agree with. All this means that shareholders are protected by a 12% yield, again validated by a combination of risk strategies that has been achieved despite the incredibly challenging environment. They added that the company has a disciplined attitude to growth and a prudent capital allocation all the time. Rusty Hutson Jr, CEO of DGO said; “As we enter the second half of 2020 with approximately $220 million of total liquidity, a healthy balance sheet and with a focused and efficient operation, we are well-positioned to capitalise on the opportunities these challenging times create, all with our unrelenting focus on creating long-term value for shareholders.” DGO has rallied from the 60p level when markets really didn’t understand the concept or the model, at 101p given the fcf yield and dividend yield which more than supports this share price for a number of reasons. The company ticks many boxes, operationally it is superb in legacy assets as well as the interesting unconventional ones it speaks highly of making record production. Other boxes ticked are the midstream assets that give it huge flexibility, optionality and revenue generation. The acquisition team are clearly smart, they are already showing enhancing economics at EQT and Carbon with a number of opportunities going forward in conventional and unconventional prospects. For investors who havent yet looked at the DGO model with its associated yields it is high time they did so, the company has strong management and great visibility in these times that is quite something.
sinnycal: Generally, it's a good business model. Conventional oil companies who do both exploration and production are able to manage steady profits and returns to shareholders by producing from wells where extraction is cheap when oil prices are low and spending on exploration when oil prices are high. DGOC relies on a low overhead structure to keep old wells active whilst using derivatives (selling forward) to hedge the fluctating prices. Note that there was a huge increase in sales last year, yet profits halved, in spite of a big swing from negative to positive impact of hedging. What happens when the low price of oil is sustained? At one point the futures price actually went negative. DGOC already runs lean, but with $600 million in debt, if they can't reduce their costs and they can't get increasing future prices, they will be, with apologies to Nicholas Cage and Angelina Jolie "Gone in 60 days" Maybe they will be able to raise more money, but I fail to see how their model will work in the longer term. We are seeing already a long term downward trend in oil prices, accelerated by Covid, but there to stay. The BBC story may give them a bit of a share price lift, but if you look to the BBC for investment advice you might want to look elsewhere...
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!
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: 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!
Diversified Gas & Oil share price data is direct from the London Stock Exchange
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