Dorchester Minerals, L.P. (NASDAQ:DMLP – Get Rating) shares saw strong trading volume on Friday after the company announced a dividend. 2,197 shares traded hands during mid-day trading, a decline of 98% from the previous session's volume of 88,015 shares.The stock last traded at $30.76 and had previously closed at $30.55.
The newly announced dividend which will be paid on Thursday, February 9th. Shareholders of record on Monday, January 30th will be paid a dividend of $0.884 per share. This represents a $3.54 dividend on an annualized basis and a yield of 11.27%. The ex-dividend date of this dividend is Friday, January 27th. Dorchester Minerals's payout ratio is currently 137.58%.
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Separately, StockNews.com upgraded Dorchester Minerals from a "buy" rating to a "strong-buy" rating in a research report on Thursday, November 10th.
Dorchester Minerals Trading Up 2.7 %
The business has a 50-day moving average price of $29.16 and a 200 day moving average price of $28.30. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 9.51 and a beta of 1.26.Dorchester Minerals (NASDAQ:DMLP – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The energy company reported $0.88 EPS for the quarter. Dorchester Minerals had a return on equity of 75.74% and a net margin of 77.66%. The company had revenue of $44.06 million during the quarter.
Insider Activity
In other Dorchester Minerals news, insider Minerals Operating Dorchester bought 7,500 shares of the firm's stock in a transaction dated Monday, December 12th. The stock was acquired at an average price of $28.18 per share, with a total value of $211,350.00. Following the completion of the transaction, the insider now directly owns 43,967 shares in the company, valued at approximately $1,238,990.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Dorchester Minerals news, insider Minerals Operating Dorchester bought 7,500 shares of the firm's stock in a transaction dated Monday, December 12th. The stock was acquired at an average price of $28.18 per share, with a total value of $211,350.00. Following the completion of the transaction, the insider now directly owns 43,967 shares in the company, valued at approximately $1,238,990.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Leslie A. Moriyama bought 1,732 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now owns 40,689 shares of the company's stock, valued at $1,169,808.75. The disclosure for this purchase can be found here. Insiders acquired 38,492 shares of company stock worth $1,092,910 over the last quarter. Corporate insiders own 7.50% of the company's stock.
Institutional Trading of Dorchester Minerals
Institutional investors have recently bought and sold shares of the company. CWM LLC boosted its position in Dorchester Minerals by 59.5% during the second quarter. CWM LLC now owns 1,340 shares of the energy company's stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. Worth Asset Management LLC acquired a new stake in Dorchester Minerals during the fourth quarter valued at $46,000. Cannell Capital LLC boosted its position in Dorchester Minerals by 35.2% during the first quarter. Cannell Capital LLC now owns 3,399 shares of the energy company's stock valued at $88,000 after purchasing an additional 885 shares during the last quarter. Signaturefd LLC boosted its position in Dorchester Minerals by 71.3% during the third quarter. Signaturefd LLC now owns 3,612 shares of the energy company's stock valued at $90,000 after purchasing an additional 1,504 shares during the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new stake in Dorchester Minerals during the third quarter valued at $137,000. 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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