Key Points
- CFO Leslie Moriyama purchased 3,041 shares on Nov. 25 at an average price of $21.50 (total ~$65,382), raising her direct holding to 83,673 shares (a 3.77% increase) per an SEC filing.
- Dividend hike: the company raised its quarterly payout to $0.6899 ($2.76 annual), implying a 12.6% yield, but the dividend payout ratio is an elevated 255.56%, which may signal sustainability concerns.
- Analyst/institution view: Weiss Ratings downgraded Dorchester to a "sell" and MarketBeat shows a consensus "Sell," while the stock traded near $21.94 (up ~3.2%) with a market cap of about $1.06 billion and a P/E of 12.75.
Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report) CFO Leslie Moriyama purchased 3,041 shares of Dorchester Minerals stock in a transaction that occurred on Tuesday, November 25th. The shares were bought at an average cost of $21.50 per share, with a total value of $65,381.50. Following the completion of the transaction, the chief financial officer directly owned 83,673 shares of the company's stock, valued at approximately $1,798,969.50. The trade was a 3.77% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Dorchester Minerals Stock Up 3.2%
NASDAQ:DMLP opened at $21.94 on Friday. Dorchester Minerals, L.P. has a twelve month low of $20.85 and a twelve month high of $34.88. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 12.75 and a beta of 0.60. The stock's 50 day moving average price is $24.16 and its two-hundred day moving average price is $25.85.
Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last released its earnings results on Thursday, November 6th. The energy company reported $0.23 earnings per share for the quarter. Dorchester Minerals had a net margin of 47.35% and a return on equity of 22.49%.
Dorchester Minerals Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 3rd were issued a dividend of $0.6899 per share. The ex-dividend date was Monday, November 3rd. This is an increase from Dorchester Minerals's previous quarterly dividend of $0.62. This represents a $2.76 dividend on an annualized basis and a yield of 12.6%. Dorchester Minerals's dividend payout ratio is 255.56%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings cut Dorchester Minerals from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Sell".
Get Our Latest Report on DMLP
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Virtus Advisers LLC acquired a new stake in shares of Dorchester Minerals in the third quarter valued at approximately $119,000. Hollow Brook Wealth Management LLC acquired a new stake in Dorchester Minerals during the third quarter worth approximately $20,790,000. Creative Planning increased its stake in Dorchester Minerals by 4.6% during the 3rd quarter. Creative Planning now owns 10,163 shares of the energy company's stock worth $263,000 after acquiring an additional 450 shares during the period. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. increased its position in shares of Dorchester Minerals by 1.5% in the third quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 29,960 shares of the energy company's stock worth $776,000 after purchasing an additional 450 shares during the period. Finally, UBS Group AG raised its stake in Dorchester Minerals by 121.7% in the third quarter. UBS Group AG now owns 86,964 shares of the energy company's stock valued at $2,251,000 after purchasing an additional 47,744 shares in the last quarter. 19.21% of the stock is owned by institutional investors.
Dorchester Minerals Company Profile
(
Get Free Report)
Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of royalty properties in the United States. Its royalty properties include producing and nonproducing mineral, royalty, 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.
Further Reading
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