Key Points
- Dorchester Minerals insider bought shares: Minerals Operating Dorchester purchased 7,500 shares at $28.30 each, totaling $212,250, and increased its holding by 13.63% to 62,517 shares.
- Stock and earnings details: DMLP opened at $27.47, near its 52-week high of $28.95, with a market cap of $1.33 billion. The company recently reported quarterly EPS of $0.59 on revenue of $58.88 million.
- Dividend and sentiment: Dorchester Minerals paid a quarterly dividend of $0.475 per share, or $1.90 annualized, for a yield of 6.9%. Analyst sentiment remains mixed, with a consensus rating of Hold despite some recent upgrades.
Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report) insider Minerals Operating Dorchester bought 7,500 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $28.30 per share, with a total value of $212,250.00. Following the transaction, the insider owned 62,517 shares of the company's stock, valued at $1,769,231.10. The trade was a 13.63% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Dorchester Minerals Stock Performance
Shares of NASDAQ:DMLP opened at $27.47 on Friday. The firm has a fifty day moving average price of $27.62 and a 200 day moving average price of $25.10. Dorchester Minerals, L.P. has a fifty-two week low of $20.85 and a fifty-two week high of $28.95. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 19.76 and a beta of 0.56.
Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last issued its earnings results on Wednesday, May 6th. The energy company reported $0.59 earnings per share for the quarter. Dorchester Minerals had a net margin of 40.85% and a return on equity of 22.11%. The firm had revenue of $58.88 million during the quarter.
Dorchester Minerals Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 4th were given a dividend of $0.475 per share. The ex-dividend date was Monday, May 4th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 6.9%. Dorchester Minerals's dividend payout ratio is currently 136.69%.
Analyst Ratings Changes
A number of brokerages recently weighed in on DMLP. Weiss Ratings upgraded shares of Dorchester Minerals from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, February 27th. Wall Street Zen upgraded shares of Dorchester Minerals from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold".
View Our Latest Stock Analysis on Dorchester Minerals
Institutional Investors Weigh In On Dorchester Minerals
A number of hedge funds have recently bought and sold shares of the business. Amundi purchased a new stake in Dorchester Minerals during the first quarter valued at $421,000. Royal Bank of Canada raised its stake in Dorchester Minerals by 14.9% during the first quarter. Royal Bank of Canada now owns 122,603 shares of the energy company's stock valued at $3,322,000 after purchasing an additional 15,921 shares in the last quarter. Cetera Investment Advisers raised its stake in Dorchester Minerals by 33.8% during the first quarter. Cetera Investment Advisers now owns 13,057 shares of the energy company's stock valued at $354,000 after purchasing an additional 3,298 shares in the last quarter. First Trust Advisors LP raised its stake in Dorchester Minerals by 24.6% during the first quarter. First Trust Advisors LP now owns 173,031 shares of the energy company's stock valued at $4,689,000 after purchasing an additional 34,191 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Dorchester Minerals during the first quarter valued at $209,000. Hedge funds and other institutional investors own 19.21% of the company's stock.
Dorchester Minerals Company Profile
(
Get Free Report)
Dorchester Minerals, L.P. (NASDAQ: DMLP) is a publicly traded master limited partnership that acquires, owns and manages mineral and royalty interests in oil and natural gas properties. The company holds net revenue interests on producing and non-producing wells, entitling it to a share of production proceeds without bearing the costs or operating responsibilities associated with exploration and development activities. Through strategic acquisitions and joint-venture arrangements, Dorchester Minerals builds a diversified portfolio of royalty assets across multiple U.S.
Further Reading
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