Bank of America Corp DE Sells 94,730 Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP)

Bank of America Corp DE trimmed its position in Dorchester Minerals, L.P. (NASDAQ:DMLP) by 37.6% during the fourth quarter, Holdings Channel reports. The firm owned 157,348 shares of the energy company’s stock after selling 94,730 shares during the quarter. Bank of America Corp DE’s holdings in Dorchester Minerals were worth $5,244,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of DMLP. JPMorgan Chase & Co. raised its holdings in shares of Dorchester Minerals by 62.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,444 shares of the energy company’s stock valued at $44,000 after purchasing an additional 556 shares during the period. Flagship Harbor Advisors LLC raised its holdings in shares of Dorchester Minerals by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 8,787 shares of the energy company’s stock valued at $293,000 after purchasing an additional 302 shares during the period. Round Rock Advisors LLC bought a new stake in shares of Dorchester Minerals in the 4th quarter valued at about $3,877,000. Burford Brothers Inc. bought a new stake in shares of Dorchester Minerals in the 4th quarter valued at about $976,000. Finally, Apollon Wealth Management LLC bought a new stake in shares of Dorchester Minerals in the 4th quarter valued at about $228,000. 19.21% of the stock is owned by institutional investors.

Insider Activity at Dorchester Minerals

In related news, CEO Bradley J. Ehrman purchased 3,356 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $29.80 per share, for a total transaction of $100,008.80. Following the purchase, the chief executive officer now owns 117,710 shares in the company, valued at approximately $3,507,758. This represents a 2.93% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Minerals Operating Dorchester purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The stock was bought at an average price of $28.76 per share, for a total transaction of $287,600.00. Following the purchase, the insider now owns 58,017 shares in the company, valued at $1,668,568.92. The trade was a 20.83% increase in their position. The disclosure for this purchase can be found here. 5.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Dorchester Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th.

Dorchester Minerals Stock Performance

Shares of DMLP stock opened at $27.25 on Wednesday. The firm’s 50-day moving average is $28.65 and its 200-day moving average is $31.01. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 12.85 and a beta of 0.62. Dorchester Minerals, L.P. has a 52-week low of $25.84 and a 52-week high of $34.88.

Dorchester Minerals (NASDAQ:DMLP) last announced its quarterly earnings results on Thursday, May 8th. The energy company reported $0.36 EPS for the quarter. Dorchester Minerals had a net margin of 56.77% and a return on equity of 36.86%.

Dorchester Minerals Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $0.7258 dividend. The ex-dividend date was Monday, May 5th. This represents a $2.90 dividend on an annualized basis and a yield of 10.65%. Dorchester Minerals’s dividend payout ratio (DPR) is currently 142.16%.

About Dorchester Minerals

Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of royalty properties in the United States. Its royalty properties include producing and nonproducing mineral, royalty, 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.