Dorchester Minerals (NASDAQ:DMLP) Share Price Breaks Above 200 Day Moving Average – Here’s What Happened

Dorchester Minerals, L.P. (NASDAQ:DMLP) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $27.55 and traded as high as $28.77. Dorchester Minerals shares last traded at $28.55, with a volume of 100,884 shares.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Dorchester Minerals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, September 16th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Dorchester Minerals currently has a consensus rating of “Hold”.

Dorchester Minerals Stock Up 2.0%

The stock has a market cap of $1.40 billion, a P/E ratio of 16.25 and a beta of 0.55. The company has a 50-day simple moving average of $28.31 and a two-hundred day simple moving average of $27.56.

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

Dorchester Minerals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd were given a dividend of $1.2729 per share. This represents a $5.09 dividend on an annualized basis and a yield of 17.8%. The ex-dividend date of this dividend was Monday, August 3rd. This is an increase from Dorchester Minerals’s previous quarterly dividend of $0.4750. Dorchester Minerals’s payout ratio is presently 289.20%.

Insider Activity

In other news, CFO Leslie Moriyama purchased 5,197 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average cost of $28.30 per share, for a total transaction of $147,075.10. Following the completion of the transaction, the chief financial officer directly owned 103,405 shares of the company’s stock, valued at $2,926,361.50. This trade represents a 5.29% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Dorchester Minerals

Institutional investors have recently modified their holdings of the stock. Pin Oak Investment Advisors Inc. bought a new position in Dorchester Minerals during the second quarter valued at approximately $25,000. Kestra Private Wealth Services LLC raised its position in Dorchester Minerals by 10.0% in the first quarter. Kestra Private Wealth Services LLC now owns 18,160 shares of the energy company’s stock worth $492,000 after acquiring an additional 1,652 shares during the period. Peapack Gladstone Financial Corp raised its holdings in Dorchester Minerals by 14.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 17,532 shares of the energy company’s stock worth $392,000 after purchasing an additional 2,250 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Dorchester Minerals by 4,918.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,061 shares of the energy company’s stock valued at $68,000 after buying an additional 3,000 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Dorchester Minerals by 33.8% in the first quarter. Cetera Investment Advisers now owns 13,057 shares of the energy company’s stock worth $354,000 after purchasing an additional 3,298 shares during the period. 19.21% of the stock is owned by hedge funds and other institutional investors.

Dorchester Minerals Company Profile

Dorchester Minerals, L.P. (NASDAQ: DMLP) is a publicly traded limited partnership that owns and manages mineral, royalty, overriding royalty and net profits interests in oil and natural gas properties in the United States. Rather than primarily drilling and operating wells, the partnership typically leases its mineral interests to exploration and production companies and receives royalty and other payments from the resulting production.

The partnership’s assets are located across several major U.S.