Dorchester Minerals (NASDAQ:DMLP) Sets New 52-Week High – Here’s Why

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $29.26 and last traded at $29.2080, with a volume of 25945 shares traded. The stock had previously closed at $28.91.

Wall Street Analyst Weigh In

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

Dorchester Minerals Stock Performance

The firm’s 50-day simple moving average is $26.97 and its 200 day simple moving average is $27.05. The company has a market capitalization of $1.43 billion, a PE ratio of 16.59 and a beta of 0.54.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings data on Thursday, August 6th. The energy company reported $0.62 EPS for the quarter. The firm had revenue of $56.08 million during the quarter. Dorchester Minerals had a net margin of 45.45% and a return on equity of 28.43%.

Dorchester Minerals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 3rd were given a $1.2729 dividend. This represents a $5.09 annualized dividend and a yield of 17.4%. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, August 3rd. Dorchester Minerals’s dividend payout ratio (DPR) is currently 289.20%.

Insiders Place Their Bets

In other Dorchester Minerals news, CFO Leslie A. Moriyama acquired 5,197 shares of the stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average cost of $28.30 per share, for a total transaction of $147,075.10. Following the acquisition, the chief financial officer owned 103,405 shares in the company, valued at $2,926,361.50. The trade was a 5.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Dorchester Minerals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DMLP. ArchPoint Investors boosted its position in shares of Dorchester Minerals by 4.1% during the 4th quarter. ArchPoint Investors now owns 559,260 shares of the energy company’s stock worth $12,505,000 after purchasing an additional 22,201 shares in the last quarter. MidFirst Bank purchased a new position in shares of Dorchester Minerals in the fourth quarter worth $11,049,000. Texas Yale Capital Corp. lifted its holdings in Dorchester Minerals by 15.8% in the fourth quarter. Texas Yale Capital Corp. now owns 201,500 shares of the energy company’s stock valued at $4,506,000 after acquiring an additional 27,500 shares during the period. First Trust Advisors LP boosted its position in shares of Dorchester Minerals by 15.8% during the 3rd quarter. First Trust Advisors LP now owns 189,500 shares of the energy company’s stock valued at $4,906,000 after acquiring an additional 25,923 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Dorchester Minerals by 20.6% during the second quarter. Bank of America Corp DE now owns 183,697 shares of the energy company’s stock worth $5,118,000 after buying an additional 31,344 shares during the period. Hedge funds and other institutional investors own 19.21% of the company’s stock.

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.