Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP – Get Rating) gapped up prior to trading on Friday . The stock had previously closed at $28.70, but opened at $29.44. Dorchester Minerals shares last traded at $29.44, with a volume of 6 shares traded.
Wall Street Analyst Weigh In
Separately, StockNews.com raised Dorchester Minerals from a "buy" rating to a "strong-buy" rating in a research report on Thursday, November 10th.
Get Dorchester Minerals alerts:Dorchester Minerals Trading Up 4.4 %
The business has a 50-day moving average price of $28.89 and a 200-day moving average price of $27.87. The firm has a market cap of $1.15 billion, a P/E ratio of 9.08 and a beta of 1.28.
Dorchester Minerals (NASDAQ:DMLP – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The energy company reported $0.88 earnings per share (EPS) for the quarter. Dorchester Minerals had a return on equity of 75.74% and a net margin of 77.66%. The business had revenue of $44.06 million for the quarter.Dorchester Minerals Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, October 31st were given a dividend of $1.135 per share. The ex-dividend date of this dividend was Friday, October 28th. This represents a $4.54 dividend on an annualized basis and a yield of 15.15%. This is an increase from Dorchester Minerals's previous quarterly dividend of $0.97. Dorchester Minerals's dividend payout ratio (DPR) is presently 137.58%.
Insider Activity at Dorchester Minerals
In related news, CFO Leslie A. Moriyama acquired 1,732 shares of the company's stock in a transaction that occurred on Wednesday, November 16th. The shares were bought at an average price of $28.75 per share, with a total value of $49,795.00. Following the completion of the transaction, the chief financial officer now directly owns 40,689 shares in the company, valued at $1,169,808.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dorchester Minerals news, insider Minerals Operating Dorchester purchased 20,000 shares of the stock in a transaction on Tuesday, December 6th. The stock was acquired at an average price of $28.59 per share, with a total value of $571,800.00. Following the completion of the acquisition, the insider now owns 28,967 shares in the company, valued at $828,166.53. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Leslie A. Moriyama purchased 1,732 shares of the stock in a transaction on Wednesday, November 16th. The stock was acquired at an average cost of $28.75 per share, with a total value of $49,795.00. Following the acquisition, the chief financial officer now owns 40,689 shares of the company's stock, valued at approximately $1,169,808.75. The disclosure for this purchase can be found here. Insiders have purchased a total of 38,492 shares of company stock valued at $1,092,910 over the last quarter. 7.50% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Dorchester Minerals
Several institutional investors have recently added to or reduced their stakes in DMLP. Kingsview Wealth Management LLC acquired a new stake in Dorchester Minerals in the second quarter worth about $10,845,000. Greenwich Investment Management Inc. boosted its holdings in Dorchester Minerals by 160.4% in the first quarter. Greenwich Investment Management Inc. now owns 406,544 shares of the energy company's stock worth $10,550,000 after acquiring an additional 250,419 shares in the last quarter. Northern Trust Corp boosted its holdings in Dorchester Minerals by 507.9% in the second quarter. Northern Trust Corp now owns 100,725 shares of the energy company's stock worth $2,402,000 after acquiring an additional 84,156 shares in the last quarter. Bank of Montreal Can boosted its holdings in Dorchester Minerals by 354.9% in the third quarter. Bank of Montreal Can now owns 79,600 shares of the energy company's stock worth $2,316,000 after acquiring an additional 62,100 shares in the last quarter. Finally, Wexford Capital LP acquired a new stake in Dorchester Minerals in the second quarter worth about $150,000. Institutional investors and hedge funds own 19.36% of the company's stock.
Dorchester Minerals Company Profile
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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. Its royalty properties consist of producing and nonproducing mineral, royalty, and overriding royalty interests located in 582 counties and parishes in 26 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.
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