Dorchester Minerals (NASDAQ:DMLP) Hits New 52-Week High at $27.52

Dorchester Minerals, L.P. (NASDAQ:DMLPGet Rating)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $27.52 and last traded at $27.43, with a volume of 136298 shares trading hands. The stock had previously closed at $25.81.

Separately, StockNews.com cut shares of Dorchester Minerals from a “strong-buy” rating to a “buy” rating in a research note on Friday.

The firm’s 50 day moving average is $24.82 and its 200 day moving average is $21.87. The company has a market cap of $965.81 million, a PE ratio of 13.46 and a beta of 1.19.

Dorchester Minerals (NASDAQ:DMLPGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The energy company reported $0.66 EPS for the quarter. The company had revenue of $30.30 million during the quarter. Dorchester Minerals had a net margin of 75.11% and a return on equity of 63.57%.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 12th. Investors of record on Monday, May 2nd will be paid a dividend of $0.754 per share. The ex-dividend date of this dividend is Friday, April 29th. This represents a $3.02 annualized dividend and a yield of 11.55%. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.64. Dorchester Minerals’s payout ratio is currently 131.96%.

In related news, COO Bradley J. Ehrman purchased 1,309 shares of the business’s stock in a transaction on Wednesday, March 9th. The stock was acquired at an average price of $23.03 per share, with a total value of $30,146.27. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Leslie A. Moriyama purchased 1,945 shares of the business’s stock in a transaction on Tuesday, March 8th. The stock was bought at an average cost of $24.58 per share, with a total value of $47,808.10. The disclosure for this purchase can be found here. Insiders own 7.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Towerpoint Wealth LLC boosted its stake in shares of Dorchester Minerals by 2.6% in the 4th quarter. Towerpoint Wealth LLC now owns 23,169 shares of the energy company’s stock valued at $459,000 after purchasing an additional 591 shares in the last quarter. Howard Financial Services LTD. boosted its stake in shares of Dorchester Minerals by 1.9% in the 1st quarter. Howard Financial Services LTD. now owns 33,619 shares of the energy company’s stock valued at $872,000 after purchasing an additional 636 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Dorchester Minerals by 11.7% in the 4th quarter. Advisor Group Holdings Inc. now owns 6,696 shares of the energy company’s stock valued at $133,000 after purchasing an additional 700 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Dorchester Minerals by 4.5% in the 3rd quarter. Raymond James & Associates now owns 22,417 shares of the energy company’s stock valued at $430,000 after purchasing an additional 970 shares in the last quarter. Finally, Delta Investment Management LLC boosted its stake in shares of Dorchester Minerals by 0.3% in the 3rd quarter. Delta Investment Management LLC now owns 397,752 shares of the energy company’s stock valued at $7,625,000 after purchasing an additional 1,295 shares in the last quarter. 16.64% of the stock is owned by institutional investors.

Dorchester Minerals Company Profile (NASDAQ:DMLP)

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. Its royalty properties consist of producing and nonproducing mineral, royalty, and overriding royalty interests located in 582 counties and parishes in 26 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.

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