Dorchester Minerals LP (NASDAQ:DMLP) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totalling 88,900 shares, a decrease of 12.8% from the May 30th total of 101,900 shares. Based on an average daily volume of 44,500 shares, the short-interest ratio is presently 2.0 days. Currently, 0.3% of the shares of the company are short sold.
In other news, COO Bradley J. Ehrman purchased 5,773 shares of Dorchester Minerals stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $18.89 per share, for a total transaction of $109,051.97. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Minerals Operating Dorchester purchased 6,167 shares of Dorchester Minerals stock in a transaction that occurred on Tuesday, June 18th. The shares were purchased at an average price of $18.33 per share, for a total transaction of $113,041.11. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 23,940 shares of company stock worth $445,313. Company insiders own 9.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Wealth Partners LLC bought a new position in Dorchester Minerals in the 1st quarter valued at approximately $959,000. Joseph P. Lucia & Associates LLC bought a new position in Dorchester Minerals in the 1st quarter valued at approximately $1,470,000. Howard Financial Services LTD. bought a new position in Dorchester Minerals in the 4th quarter valued at approximately $252,000. Creative Planning lifted its stake in Dorchester Minerals by 28.5% in the 1st quarter. Creative Planning now owns 66,065 shares of the energy company’s stock valued at $1,206,000 after purchasing an additional 14,655 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Dorchester Minerals in the 4th quarter valued at approximately $206,000. Institutional investors and hedge funds own 16.71% of the company’s stock.
Separately, BidaskClub upgraded shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Friday.
Shares of NASDAQ DMLP traded up $0.31 during trading hours on Friday, hitting $19.20. 60,504 shares of the stock were exchanged, compared to its average volume of 41,703. The company has a current ratio of 12.50, a quick ratio of 12.50 and a debt-to-equity ratio of 0.02. The firm has a market cap of $656.49 million, a P/E ratio of 11.03 and a beta of 0.97. The firm has a fifty day moving average of $18.44. Dorchester Minerals has a 1-year low of $14.11 and a 1-year high of $21.15.
Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $19.03 million for the quarter. Dorchester Minerals had a net margin of 74.48% and a return on equity of 58.74%.
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 profits, and leasehold interests in the United States. The company's royalty properties consist of producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests located in 574 counties and parishes in 25 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.
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