Dorchester Minerals (NASDAQ:DMLP) Sets New 12-Month High at $34.06

Dorchester Minerals, L.P. (NASDAQ:DMLPGet Free Report) reached a new 52-week high on Monday . The stock traded as high as $34.06 and last traded at $33.92, with a volume of 30028 shares. The stock had previously closed at $33.72.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Dorchester Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, January 6th.

Check Out Our Latest Report on Dorchester Minerals

Dorchester Minerals Trading Up 2.1 %

The stock has a market capitalization of $1.39 billion, a PE ratio of 12.37 and a beta of 1.11. The firm’s 50-day simple moving average is $31.66 and its two-hundred day simple moving average is $30.41.

Dorchester Minerals (NASDAQ:DMLPGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The energy company reported $0.90 EPS for the quarter. Dorchester Minerals had a net margin of 68.89% and a return on equity of 66.48%. The business had revenue of $50.42 million for the quarter.

Dorchester Minerals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 8th. Stockholders of record on Monday, January 29th were issued a dividend of $1.0079 per share. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.54. This represents a $4.03 annualized dividend and a dividend yield of 11.48%. The ex-dividend date was Friday, January 26th. Dorchester Minerals’s payout ratio is currently 141.90%.

Insider Activity

In related news, insider Minerals Operating Dorchester purchased 1,275 shares of the stock in a transaction dated Friday, February 2nd. The shares were acquired at an average cost of $30.90 per share, for a total transaction of $39,397.50. Following the acquisition, the insider now directly owns 48,574 shares in the company, valued at approximately $1,500,936.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 13,775 shares of company stock worth $448,648 in the last ninety days. Corporate insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Dorchester Minerals

Large investors have recently bought and sold shares of the business. McIlrath & Eck LLC bought a new stake in Dorchester Minerals in the fourth quarter worth $30,000. Tower Research Capital LLC TRC boosted its holdings in Dorchester Minerals by 240.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,068 shares of the energy company’s stock worth $34,000 after purchasing an additional 754 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its holdings in Dorchester Minerals by 45.0% in the second quarter. Pin Oak Investment Advisors Inc. now owns 1,450 shares of the energy company’s stock worth $43,000 after purchasing an additional 450 shares in the last quarter. Citigroup Inc. boosted its holdings in Dorchester Minerals by 4,306.7% in the third quarter. Citigroup Inc. now owns 2,644 shares of the energy company’s stock worth $77,000 after purchasing an additional 2,584 shares in the last quarter. Finally, Cannell Capital LLC boosted its holdings in Dorchester Minerals by 35.2% in the first quarter. Cannell Capital LLC now owns 3,399 shares of the energy company’s stock worth $88,000 after purchasing an additional 885 shares in the last quarter. 19.21% of the stock is currently owned by institutional investors.

About Dorchester Minerals

(Get Free Report)

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. The company's royalty properties consist of producing and nonproducing mineral, royalty, and 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.

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