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Dorchester Minerals (NASDAQ:DMLP) Shares Gap Down to $31.68

Defense World · Jan 29, 2023 01:42

Dorchester Minerals, L.P. (NASDAQ:DMLP – Get Rating) shares gapped down prior to trading on Friday . The stock had previously closed at $31.68, but opened at $30.36. Dorchester Minerals shares last traded at $30.84, with a volume of 34,021 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Dorchester Minerals from a "buy" rating to a "strong-buy" rating in a research report on Thursday, November 10th.

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Dorchester Minerals Stock Down 2.5 %

The stock's 50-day moving average is $29.42 and its 200-day moving average is $28.53. The firm has a market cap of $1.15 billion, a P/E ratio of 9.09 and a beta of 1.26.

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 for the quarter. Dorchester Minerals had a net margin of 77.66% and a return on equity of 75.74%. The firm had revenue of $44.06 million for the quarter.

Dorchester Minerals Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 9th. Shareholders of record on Monday, January 30th will be issued a dividend of $0.884 per share. This represents a $3.54 dividend on an annualized basis and a yield of 11.79%. The ex-dividend date is Friday, January 27th. Dorchester Minerals's dividend payout ratio is currently 137.58%.

Insiders Place Their Bets

In other Dorchester Minerals news, CFO Leslie A. Moriyama bought 1,732 shares of the business's stock in a transaction on Wednesday, November 16th. The shares were bought at an average cost of $28.75 per share, for a total transaction of $49,795.00. Following the transaction, the chief financial officer now owns 40,689 shares in the company, valued at approximately $1,169,808.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Bradley J. Ehrman bought 1,760 shares of the company's stock in a transaction on Thursday, November 10th. The shares were purchased at an average cost of $28.73 per share, for a total transaction of $50,564.80. Following the acquisition, the chief executive officer now owns 75,568 shares of the company's stock, valued at approximately $2,171,068.64. The purchase 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 firm's stock in a transaction dated Wednesday, November 16th. The shares were acquired at an average cost of $28.75 per share, with a total value of $49,795.00. Following the completion of the purchase, the chief financial officer now directly owns 40,689 shares in the company, valued at $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 in the last 90 days. 7.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dorchester Minerals

Hedge funds have recently made changes to their positions in the business. CWM LLC lifted its holdings in Dorchester Minerals by 59.5% during the 2nd 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 shares of Dorchester Minerals during the fourth quarter worth $46,000. Cannell Capital LLC lifted its holdings 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 buying an additional 885 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Dorchester Minerals by 71.3% during the third quarter. Signaturefd LLC now owns 3,612 shares of the energy company's stock worth $90,000 after buying an additional 1,504 shares in the last quarter. Finally, MADDEN SECURITIES Corp acquired a new stake in shares of Dorchester Minerals during the fourth quarter worth $156,000. 19.36% of the stock is owned by institutional investors.

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.