Dorchester Minerals (NASDAQ:DMLP) Stock Breaks Above 200-Day Moving Average – Here’s What Happened

Dorchester Minerals, L.P. (NASDAQ:DMLP) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $27.70 and traded as high as $30.11. Dorchester Minerals shares last traded at $29.87, with a volume of 50,557 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Dorchester Minerals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Dorchester Minerals Stock Performance

The firm has a fifty day moving average price of $29.00 and a 200 day moving average price of $27.72. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 17.29 and a beta of 0.64.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings results on Thursday, August 6th. The energy company reported $0.62 earnings per share for the quarter. Dorchester Minerals had a return on equity of 28.43% and a net margin of 45.45%. The firm had revenue of $56.08 million for the quarter.

Dorchester Minerals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd were given a dividend of $1.2729 per share. This represents a $5.09 annualized dividend and a dividend yield of 16.7%. The ex-dividend date was Monday, August 3rd. This is an increase from Dorchester Minerals’s previous quarterly dividend of $0.4750. Dorchester Minerals’s payout ratio is presently 289.20%.

Insider Buying and Selling at Dorchester Minerals

In related news, CFO Leslie Moriyama purchased 5,197 shares of the stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average cost of $28.30 per share, with a total value of $147,075.10. Following the purchase, the chief financial officer directly owned 103,405 shares in the company, valued at $2,926,361.50. This trade represents a 5.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Dorchester Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Global Strategic Management Inc. grew its position in Dorchester Minerals by 74.7% during the third quarter. Global Strategic Management Inc. now owns 47,250 shares of the energy company’s stock worth $1,324,000 after buying an additional 20,200 shares during the period. Ulland Investment Advisors LLC lifted its position in shares of Dorchester Minerals by 6.2% during the 3rd quarter. Ulland Investment Advisors LLC now owns 17,000 shares of the energy company’s stock valued at $477,000 after acquiring an additional 1,000 shares during the period. Adams Asset Advisors LLC boosted its stake in shares of Dorchester Minerals by 1.6% during the 3rd quarter. Adams Asset Advisors LLC now owns 925,684 shares of the energy company’s stock worth $25,956,000 after acquiring an additional 14,750 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its stake in shares of Dorchester Minerals by 4.6% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 14,750 shares of the energy company’s stock worth $414,000 after acquiring an additional 650 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Dorchester Minerals by 34.6% in the 2nd quarter. Tidal Investments LLC now owns 15,855 shares of the energy company’s stock worth $400,000 after acquiring an additional 4,079 shares during the period. Institutional investors and hedge funds own 19.21% of the company’s stock.

About Dorchester Minerals

Dorchester Minerals, L.P. is a publicly traded master limited partnership that owns and manages oil and natural gas mineral interests in the United States. Its assets include producing and non-producing mineral and royalty interests, overriding royalty interests, net profits interests, leasehold interests and other related energy properties.

The partnership generally leases its mineral interests to exploration and production companies rather than directly developing most properties. It earns revenue primarily from royalties and other payments associated with oil and natural gas production, as well as lease bonuses and related interests.