Key Points
- Insider buying: Minerals Operating Dorchester bought 7,500 shares of Dorchester Minerals at $27.56 each, a $206,700 purchase that increased its stake by 12%. The trade was made under a pre-arranged Rule 10b5-1 plan.
- Stock performance and valuation: Dorchester Minerals shares were up 1.4% to $28.06, near their 52-week high of $28.95. The company has a market cap of $1.35 billion and a P/E ratio of 20.19.
- Dividend and earnings update: The company recently reported quarterly EPS of $0.59 and paid a $0.475 quarterly dividend, equal to a 6.8% annualized yield. Its payout ratio is high at 136.69%.
Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report) insider Minerals Operating Dorchester acquired 7,500 shares of Dorchester Minerals stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $27.56 per share, for a total transaction of $206,700.00. Following the purchase, the insider owned 70,017 shares of the company's stock, valued at $1,929,668.52. The trade was a 12.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Minerals Operating Dorchester also recently made the following trade(s):
- On Wednesday, May 20th, Minerals Operating Dorchester acquired 7,500 shares of Dorchester Minerals stock. The stock was acquired at an average cost of $28.30 per share, for a total transaction of $212,250.00.
Dorchester Minerals Stock Up 1.4%
Shares of Dorchester Minerals stock opened at $28.06 on Wednesday. Dorchester Minerals, L.P. has a twelve month low of $20.85 and a twelve month high of $28.95. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 20.19 and a beta of 0.54. The company's fifty day moving average is $27.64 and its 200 day moving average is $25.29.
Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $58.88 million for the quarter.
Dorchester Minerals Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 4th were issued a $0.475 dividend. The ex-dividend date was Monday, May 4th. This represents a $1.90 annualized dividend and a yield of 6.8%. Dorchester Minerals's payout ratio is presently 136.69%.
Hedge Funds Weigh In On Dorchester Minerals
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hollow Brook Wealth Management LLC acquired a new position in shares of Dorchester Minerals during the third quarter valued at about $20,790,000. Adams Asset Advisors LLC raised its holdings in shares of Dorchester Minerals by 9.1% during the fourth quarter. Adams Asset Advisors LLC now owns 814,852 shares of the energy company's stock valued at $18,220,000 after purchasing an additional 68,177 shares during the period. GraniteShares Advisors LLC raised its holdings in shares of Dorchester Minerals by 34.2% during the fourth quarter. GraniteShares Advisors LLC now owns 122,472 shares of the energy company's stock valued at $2,738,000 after purchasing an additional 31,226 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Dorchester Minerals by 147.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 98,028 shares of the energy company's stock valued at $2,192,000 after purchasing an additional 58,430 shares during the period. Finally, Freestone Capital Holdings LLC raised its holdings in shares of Dorchester Minerals by 37.6% during the fourth quarter. Freestone Capital Holdings LLC now owns 86,000 shares of the energy company's stock valued at $1,923,000 after purchasing an additional 23,500 shares during the period. Institutional investors and hedge funds own 19.21% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on DMLP shares. Weiss Ratings upgraded shares of Dorchester Minerals from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, February 27th. Wall Street Zen upgraded shares of Dorchester Minerals from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold".
Check Out Our Latest Research Report on Dorchester Minerals
About Dorchester Minerals
(
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.
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