Dorchester Minerals (NASDAQ:DMLP) Reaches New 1-Year High After Dividend Announcement

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s share price reached a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $30.80 and last traded at $30.6160, with a volume of 43,629 shares. The stock had previously closed at $29.98.

The newly announced dividend which will be paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd will be paid a dividend of $0.8823 per share. This is a decrease from Dorchester Minerals’s previous quarterly dividend of $1.2729. The ex-dividend date is Monday, November 2nd. This represents a $3.53 annualized dividend and a yield of 11.5%. Dorchester Minerals’s dividend payout ratio (DPR) is presently 289.20%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Dorchester Minerals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 2nd. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Dorchester Minerals Stock Performance

The company has a market cap of $1.51 billion, a PE ratio of 17.42 and a beta of 0.64. The firm’s 50 day moving average is $29.23 and its 200-day moving average is $27.79.

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

Insider Activity at Dorchester Minerals

In related news, CFO Leslie Moriyama acquired 5,197 shares of Dorchester Minerals stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average price of $28.30 per share, for a total transaction of $147,075.10. Following the completion of the transaction, the chief financial officer owned 103,405 shares in the company, valued at $2,926,361.50. This represents a 5.29% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Dorchester Minerals

A number of hedge funds and other institutional investors have recently modified their holdings of DMLP. Adams Asset Advisors LLC raised its holdings 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 during the period. First Trust Advisors LP boosted its position in shares of Dorchester Minerals by 24.6% during the 1st quarter. First Trust Advisors LP now owns 173,031 shares of the energy company’s stock valued at $4,689,000 after acquiring an additional 34,191 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Dorchester Minerals by 14.9% during the 1st quarter. Royal Bank of Canada now owns 122,603 shares of the energy company’s stock valued at $3,322,000 after acquiring an additional 15,921 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Dorchester Minerals by 11.5% in the first quarter. Geneos Wealth Management Inc. now owns 109,291 shares of the energy company’s stock valued at $2,962,000 after purchasing an additional 11,263 shares during the period. Finally, Glenmede Trust Co. NA increased its position in Dorchester Minerals by 58.0% during the first quarter. Glenmede Trust Co. NA now owns 54,502 shares of the energy company’s stock worth $1,477,000 after purchasing an additional 20,000 shares during the last quarter. 19.21% of the stock is owned by institutional investors and hedge funds.

Dorchester Minerals Company Profile

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.