Glenmede Trust Co. NA Boosts Stake in Dorchester Minerals, L.P. $DMLP

Glenmede Trust Co. NA lifted its position in Dorchester Minerals, L.P. (NASDAQ:DMLP) by 58.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,502 shares of the energy company’s stock after purchasing an additional 20,000 shares during the quarter. Glenmede Trust Co. NA’s holdings in Dorchester Minerals were worth $1,477,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its position in Dorchester Minerals by 5.4% during the first quarter. Royal Bank of Canada now owns 74,470 shares of the energy company’s stock worth $2,240,000 after buying an additional 3,785 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Dorchester Minerals by 6.3% during the first quarter. Goldman Sachs Group Inc. now owns 35,684 shares of the energy company’s stock worth $1,073,000 after acquiring an additional 2,101 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Dorchester Minerals by 59.9% during the first quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company’s stock worth $35,000 after acquiring an additional 440 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Dorchester Minerals in the 2nd quarter valued at $293,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Dorchester Minerals by 17.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,815 shares of the energy company’s stock valued at $301,000 after acquiring an additional 1,570 shares during the period. 19.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DMLP has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Dorchester Minerals in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of Dorchester Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Insiders Place Their Bets

In other news, CEO Bradley J. Ehrman acquired 4,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $26.78 per share, for a total transaction of $107,120.00. Following the transaction, the chief executive officer owned 142,723 shares in the company, valued at $3,822,121.94. This represents a 2.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Minerals Operating Dorchester acquired 7,500 shares of the business’s stock in a transaction on Monday, June 1st. The shares were purchased at an average price of $27.56 per share, with a total value of $206,700.00. Following the transaction, the insider owned 70,017 shares in the company, valued at $1,929,668.52. The trade was a 12.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders purchased 19,000 shares of company stock worth $526,070. 5.90% of the stock is currently owned by insiders.

Dorchester Minerals Trading Up 0.1%

Dorchester Minerals stock opened at $25.51 on Thursday. Dorchester Minerals, L.P. has a twelve month low of $20.85 and a twelve month high of $28.95. The stock has a 50 day moving average of $26.57 and a two-hundred day moving average of $26.60. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 18.35 and a beta of 0.54.

Dorchester Minerals (NASDAQ:DMLP) last released its earnings results on Wednesday, May 6th. The energy company reported $0.59 earnings per share (EPS) for the quarter. Dorchester Minerals had a return on equity of 22.11% and a net margin of 40.85%.The business had revenue of $58.88 million for the quarter.

Dorchester Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 3rd will be given a $1.2729 dividend. This is a positive change from Dorchester Minerals’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, August 3rd. This represents a $5.09 dividend on an annualized basis and a yield of 20.0%. Dorchester Minerals’s payout ratio is 366.19%.

About Dorchester Minerals

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.