Dorchester Minerals (NASDAQ:DMLP) Sets New 12-Month High – Still a Buy?

Dorchester Minerals, L.P. (NASDAQ:DMLP) hit a new 52-week high 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 Analysts Forecast Growth

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

Dorchester Minerals Stock Up 0.3%

The company has a market cap of $1.44 billion, a P/E ratio of 16.64 and a beta of 0.55. The company has a 50 day moving average price of $27.11 and a 200-day moving average price of $27.10.

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

Dorchester Minerals Increases Dividend

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

Insider Activity

In related news, CFO Leslie A. Moriyama acquired 5,197 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average price of $28.30 per share, for a total transaction of $147,075.10. Following the completion of the purchase, the chief financial officer directly owned 103,405 shares of the company’s stock, valued at $2,926,361.50. The trade was a 5.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

Institutional Trading of Dorchester Minerals

A number of hedge funds and other institutional investors have recently modified their holdings of DMLP. ING Groep NV boosted its stake in Dorchester Minerals by 38.3% during the fourth quarter. ING Groep NV now owns 131,500 shares of the energy company’s stock valued at $2,940,000 after buying an additional 36,400 shares in the last quarter. Texas Yale Capital Corp. lifted its holdings in Dorchester Minerals by 15.8% in the 4th 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 last quarter. 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 valued at $12,505,000 after purchasing an additional 22,201 shares in the last quarter. Resolute Capital LLC bought a new position in shares of Dorchester Minerals during the 4th quarter valued at about $1,058,000. Finally, Burford Brothers Inc. acquired a new position in shares of Dorchester Minerals in the 4th quarter worth approximately $808,000. Institutional investors own 19.21% of the company’s stock.

About Dorchester Minerals

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.