Dorchester Minerals, L.P. (NASDAQ:DMLP) Declares $0.78 Quarterly Dividend

Dorchester Minerals, L.P. (NASDAQ:DMLP) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Investors of record on Monday, April 29th will be given a dividend of 0.782 per share by the energy company on Thursday, May 9th. This represents a $3.13 dividend on an annualized basis and a yield of 9.25%. The ex-dividend date of this dividend is Friday, April 26th.

Dorchester Minerals Trading Up 0.8 %

DMLP opened at $33.83 on Friday. Dorchester Minerals has a 1-year low of $27.02 and a 1-year high of $35.74. The stock’s fifty day simple moving average is $32.47 and its 200 day simple moving average is $30.86. The stock has a market cap of $1.34 billion, a PE ratio of 11.91 and a beta of 1.11.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings results on Thursday, February 22nd. The energy company reported $0.90 earnings per share for the quarter. Dorchester Minerals had a return on equity of 66.48% and a net margin of 68.89%. The business had revenue of $50.42 million for the quarter.

Insiders Place Their Bets

In other news, insider Minerals Operating Dorchester acquired 5,000 shares of the stock in a transaction on Tuesday, January 30th. The shares were purchased at an average price of $31.66 per share, for a total transaction of $158,300.00. Following the transaction, the insider now directly owns 47,299 shares of the company’s stock, valued at $1,497,486.34. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought 13,775 shares of company stock worth $448,648 in the last 90 days. Company insiders own 7.10% of the company’s stock.

Institutional Trading of Dorchester Minerals

Large investors have recently modified their holdings of the stock. McIlrath & Eck LLC acquired a new stake in shares of Dorchester Minerals during the 4th quarter worth $30,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of Dorchester Minerals by 45.0% during the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 1,450 shares of the energy company’s stock worth $43,000 after purchasing an additional 450 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Dorchester Minerals by 4,306.7% during the 3rd quarter. Citigroup Inc. now owns 2,644 shares of the energy company’s stock worth $77,000 after purchasing an additional 2,584 shares in the last quarter. Cannell Capital LLC grew its holdings in shares of Dorchester Minerals by 35.2% during the 1st quarter. Cannell Capital LLC now owns 3,399 shares of the energy company’s stock worth $88,000 after purchasing an additional 885 shares in the last quarter. Finally, State of Wyoming grew its holdings in shares of Dorchester Minerals by 247.1% during the 2nd quarter. State of Wyoming now owns 3,835 shares of the energy company’s stock worth $115,000 after purchasing an additional 2,730 shares in the last quarter. 19.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Dorchester Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, January 6th.

About Dorchester Minerals

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.