Dorchester Minerals (NASDAQ:DMLP) Releases Earnings Results

Dorchester Minerals (NASDAQ:DMLP) released its quarterly earnings data on Thursday. The energy company reported $0.54 earnings per share for the quarter, Zacks reports. Dorchester Minerals had a return on equity of 28.43% and a net margin of 45.45%.

Dorchester Minerals Stock Down 2.0%

Shares of DMLP stock traded down $0.55 during mid-day trading on Thursday, hitting $27.26. 215,928 shares of the stock were exchanged, compared to its average volume of 162,034. The company has a market cap of $1.34 billion, a PE ratio of 15.49 and a beta of 0.65. The firm has a fifty day moving average of $29.42 and a 200 day moving average of $27.41. Dorchester Minerals has a 52-week low of $20.85 and a 52-week high of $31.08.

Dorchester Minerals Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.8823 per share. This represents a $3.53 annualized dividend and a dividend yield of 12.9%. The ex-dividend date of this dividend is Monday, November 2nd. This is a decrease from Dorchester Minerals’s previous quarterly dividend of $1.2729. Dorchester Minerals’s dividend payout ratio is currently 200.57%.

Insider Activity

In related news, CFO Leslie Moriyama purchased 5,197 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average price of $28.30 per share, with a total value of $147,075.10. Following the purchase, the chief financial officer owned 103,405 shares of the company’s stock, valued at $2,926,361.50. The trade was a 5.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Dorchester Minerals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

About Dorchester Minerals

Dorchester Minerals, L.P. (NASDAQ:DMLP) is a publicly traded energy partnership that owns and manages mineral, royalty, overriding royalty, and net profits interests in oil and natural gas properties. Rather than operating wells directly, the company generally receives payments from exploration and production companies that develop and produce hydrocarbons from its properties.

The partnership’s assets are located across several major U.S. oil and gas regions, including the Permian Basin, the Haynesville and other Gulf Coast areas, the Anadarko Basin, and the Rocky Mountain region.