Dorchester Minerals (NASDAQ:DMLP) Hits New 1-Year High at $34.00

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $34.00 and last traded at $33.73, with a volume of 5176 shares. The stock had previously closed at $33.47.

Analyst Ratings Changes

Separately, StockNews.com upgraded Dorchester Minerals from a “hold” rating to a “buy” rating in a report on Saturday, January 6th.

Dorchester Minerals Price Performance

The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 11.96 and a beta of 1.10. The business has a fifty day moving average of $31.54 and a 200 day moving average of $30.24.

Dorchester Minerals (NASDAQ:DMLP) last released its quarterly earnings data on Thursday, February 22nd. The energy company reported $0.90 EPS for the quarter. Dorchester Minerals had a return on equity of 66.48% and a net margin of 68.89%. The firm had revenue of $50.42 million for the quarter.

Dorchester Minerals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 8th. Stockholders of record on Monday, January 29th were given a dividend of $1.0079 per share. The ex-dividend date was Friday, January 26th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 11.86%. This is a positive change from Dorchester Minerals’s previous quarterly dividend of $0.54. Dorchester Minerals’s dividend payout ratio is currently 141.90%.

Insider Transactions at Dorchester Minerals

In related news, insider Minerals Operating Dorchester acquired 7,500 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were acquired at an average price of $33.46 per share, with a total value of $250,950.00. Following the completion of the transaction, the insider now owns 42,299 shares of the company’s stock, valued at $1,415,324.54. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have purchased 13,775 shares of company stock valued at $448,648. 7.10% of the stock is currently owned by company insiders.

Institutional Trading of Dorchester Minerals

A number of large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. grew its stake in shares of Dorchester Minerals by 22.4% during the first quarter. Advisor Group Holdings Inc. now owns 8,199 shares of the energy company’s stock worth $212,000 after purchasing an additional 1,503 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Dorchester Minerals during the first quarter worth $458,000. Cannell Capital LLC grew its stake in shares of Dorchester Minerals by 35.2% during the first quarter. Cannell Capital LLC now owns 3,399 shares of the energy company’s stock worth $88,000 after purchasing an additional 885 shares in the last quarter. Northern Trust Corp grew its stake in shares of Dorchester Minerals by 507.9% during the second quarter. Northern Trust Corp now owns 100,725 shares of the energy company’s stock worth $2,402,000 after purchasing an additional 84,156 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Dorchester Minerals by 34.1% during the second quarter. Renaissance Technologies LLC now owns 149,100 shares of the energy company’s stock worth $3,556,000 after purchasing an additional 37,900 shares in the last quarter. Hedge funds and other institutional investors own 19.21% of the company’s stock.

About Dorchester Minerals

Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of producing and nonproducing natural gas and crude oil royalty, net profit, and leasehold interests in the United States. The company's royalty properties consist of producing and nonproducing mineral, royalty, and overriding royalty, net profits, and leasehold interests in 593 counties and parishes in 28 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.