Dorchester Minerals (NASDAQ:DMLP) Shares Down 5.3%

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s share price dropped 5.3% during mid-day trading on Friday . The company traded as low as $31.40 and last traded at $31.43. Approximately 86,023 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 77,770 shares. The stock had previously closed at $33.18.

Wall Street Analysts Forecast Growth

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

Dorchester Minerals Trading Down 6.9 %

The firm’s fifty day simple moving average is $33.02 and its two-hundred day simple moving average is $31.15. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 10.93 and a beta of 1.10.

Dorchester Minerals (NASDAQ:DMLP) last issued its quarterly earnings data 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 during the quarter.

Dorchester Minerals Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, April 29th will be issued a dividend of $0.782 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.13 annualized dividend and a yield of 10.13%. Dorchester Minerals’s dividend payout ratio (DPR) is 110.21%.

Institutional Trading of Dorchester Minerals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in Dorchester Minerals during the 1st quarter worth $25,000. Tower Research Capital LLC TRC grew its stake in shares of Dorchester Minerals by 240.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,068 shares of the energy company’s stock valued at $34,000 after purchasing an additional 754 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Dorchester Minerals in the first quarter valued at approximately $34,000. Citigroup Inc. lifted its position in Dorchester Minerals by 4,306.7% in the third quarter. Citigroup Inc. now owns 2,644 shares of the energy company’s stock valued at $77,000 after purchasing an additional 2,584 shares during the period. Finally, Arlington Trust Co LLC acquired a new position in Dorchester Minerals during the fourth quarter worth $108,000. Institutional investors and hedge funds own 19.21% of the company’s stock.

Dorchester Minerals Company Profile

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.