Short Interest in Dorchester Minerals, L.P. (NASDAQ:DMLP) Rises By 7.2%

Dorchester Minerals, L.P. (NASDAQ:DMLPGet Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 449,500 shares, a growth of 7.2% from the February 29th total of 419,500 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily volume of 80,400 shares, the days-to-cover ratio is presently 5.6 days.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Analysis on Dorchester Minerals

Dorchester Minerals Price Performance

DMLP traded up $0.39 during mid-day trading on Wednesday, hitting $35.52. The stock had a trading volume of 12,782 shares, compared to its average volume of 80,181. Dorchester Minerals has a 1-year low of $27.02 and a 1-year high of $35.71. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.37 and a beta of 1.11. The stock’s fifty day simple moving average is $31.66 and its 200-day simple moving average is $30.41.

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

Dorchester Minerals Increases Dividend

The firm also recently disclosed 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 represents a $4.03 annualized dividend and a dividend yield of 11.35%. The ex-dividend date of this dividend was Friday, January 26th. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.54. Dorchester Minerals’s payout ratio is 141.90%.

Insider Activity

In related news, insider Minerals Operating Dorchester purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was acquired at an average price of $31.66 per share, with a total value of $158,300.00. Following the completion of the acquisition, the insider now directly owns 47,299 shares in the company, valued at approximately $1,497,486.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 13,775 shares of company stock valued at $448,648 over the last three months. 7.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Dorchester Minerals

Several institutional investors and hedge funds have recently modified their holdings of the business. McIlrath & Eck LLC bought a new position in Dorchester Minerals in the fourth quarter valued at approximately $30,000. Tower Research Capital LLC TRC raised its position in Dorchester Minerals by 240.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,068 shares of the energy company’s stock valued at $34,000 after buying an additional 754 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its position in shares of 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 stake in shares of Dorchester Minerals by 4,306.7% during the 3rd quarter. Citigroup Inc. now owns 2,644 shares of the energy company’s stock worth $77,000 after buying an additional 2,584 shares during the last quarter. Finally, Cannell Capital LLC raised its holdings in 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 acquiring an additional 885 shares in the last quarter. 19.21% of the stock is currently owned by institutional investors and hedge funds.

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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