Dorchester Minerals (NASDAQ:DMLP) Stock Passes Above 200-Day Moving Average – Time to Sell?

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.46 and traded as high as $29.97. Dorchester Minerals shares last traded at $29.42, with a volume of 117,334 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Dorchester Minerals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, September 16th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Dorchester Minerals Stock Up 0.0%

The firm’s 50-day moving average is $28.13 and its 200-day moving average is $27.47. The company has a market cap of $1.43 billion, a PE ratio of 16.54 and a beta of 0.55.

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

Dorchester Minerals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd were paid a dividend of $1.2729 per share. The ex-dividend date was Monday, August 3rd. This represents a $5.09 annualized dividend and a yield of 17.5%. This is a positive change from Dorchester Minerals’s previous quarterly dividend of $0.48. Dorchester Minerals’s dividend payout ratio (DPR) is 289.20%.

Insider Activity at Dorchester Minerals

In other news, CFO Leslie Moriyama purchased 5,197 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average cost of $28.30 per share, for a total transaction of $147,075.10. Following the purchase, the chief financial officer directly owned 103,405 shares in the company, valued at approximately $2,926,361.50. This represents a 5.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dorchester Minerals

Several institutional investors and hedge funds have recently bought and sold shares of DMLP. Tidal Investments LLC lifted its stake in shares of Dorchester Minerals by 34.6% during the 2nd quarter. Tidal Investments LLC now owns 15,855 shares of the energy company’s stock valued at $400,000 after buying an additional 4,079 shares in the last quarter. Burford Brothers Inc. increased its stake in Dorchester Minerals by 73.1% in the 2nd quarter. Burford Brothers Inc. now owns 51,761 shares of the energy company’s stock worth $1,307,000 after buying an additional 21,865 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in Dorchester Minerals in the 2nd quarter worth $25,000. Trust Co. of Vermont purchased a new stake in Dorchester Minerals in the 2nd quarter worth $348,000. Finally, Redhawk Wealth Advisors Inc. raised its holdings in Dorchester Minerals by 83.6% during the second quarter. Redhawk Wealth Advisors Inc. now owns 17,743 shares of the energy company’s stock valued at $448,000 after acquiring an additional 8,079 shares during the period. 19.21% of the stock is currently owned by hedge funds and other institutional investors.

About Dorchester Minerals

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.