Dorchester Minerals (NASDAQ:DMLP) Sees Strong Trading Volume Following Dividend Announcement

Dorchester Minerals, L.P. (NASDAQ:DMLP) shares saw unusually-high trading volume on Friday following a dividend announcement from the company. Approximately 387,154 shares were traded during trading, an increase of 117% from the previous session’s volume of 178,211 shares.The stock last traded at $27.78 and had previously closed at $27.44.

The newly announced dividend which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd will be given a $1.2729 dividend. This represents a $5.09 dividend on an annualized basis and a yield of 18.4%. The ex-dividend date is Monday, August 3rd. This is a positive change from Dorchester Minerals’s previous quarterly dividend of $0.48. Dorchester Minerals’s dividend payout ratio is 136.69%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Dorchester Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Dorchester Minerals in a report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Dorchester Minerals Stock Performance

The company has a 50-day moving average of $26.76 and a 200-day moving average of $26.37. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 19.99 and a beta of 0.55.

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. The firm had revenue of $58.88 million during the quarter. Dorchester Minerals had a return on equity of 22.11% and a net margin of 40.85%.

Insider Activity

In related news, insider Minerals Operating Dorchester acquired 7,500 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was bought at an average price of $27.56 per share, with a total value of $206,700.00. Following the acquisition, the insider owned 70,017 shares in the company, valued at $1,929,668.52. This represents a 12.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bradley J. Ehrman purchased 4,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $26.78 per share, with a total value of $107,120.00. Following the purchase, the chief executive officer owned 142,723 shares of the company’s stock, valued at approximately $3,822,121.94. The trade was a 2.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 19,000 shares of company stock worth $526,070 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Dorchester Minerals

Several hedge funds have recently added to or reduced their stakes in DMLP. Geneos Wealth Management Inc. grew its position in shares of Dorchester Minerals by 59.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company’s stock worth $35,000 after buying an additional 440 shares during the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. boosted its holdings in Dorchester Minerals by 1.5% in the third quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 29,960 shares of the energy company’s stock valued at $776,000 after acquiring an additional 450 shares in the last quarter. Creative Planning increased its position in Dorchester Minerals by 4.6% during the 3rd quarter. Creative Planning now owns 10,163 shares of the energy company’s stock valued at $263,000 after purchasing an additional 450 shares during the period. Osaic Holdings Inc. increased its position in Dorchester Minerals by 14.1% during the 2nd quarter. Osaic Holdings Inc. now owns 3,748 shares of the energy company’s stock valued at $104,000 after purchasing an additional 463 shares during the period. Finally, Lido Advisors LLC raised its holdings in Dorchester Minerals by 4.7% in the 4th quarter. Lido Advisors LLC now owns 16,388 shares of the energy company’s stock worth $366,000 after purchasing an additional 738 shares in the last quarter. 19.21% of the stock is owned by institutional investors and hedge funds.

Dorchester Minerals Company Profile

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.