Dorchester Minerals (NASDAQ:DMLP) Sees Unusually-High Trading Volume – Time to Buy?

Dorchester Minerals, L.P. (NASDAQ:DMLP) shares saw unusually-high trading volume on Friday . Approximately 249,981 shares changed hands during trading, an increase of 92% from the previous session’s volume of 130,054 shares.The stock last traded at $23.0150 and had previously closed at $22.54.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Dorchester Minerals in a research note on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Dorchester Minerals currently has a consensus rating of “Sell”.

Dorchester Minerals Price Performance

The company’s 50 day simple moving average is $23.88 and its 200 day simple moving average is $25.67. The company has a market capitalization of $1.12 billion, a PE ratio of 21.40 and a beta of 0.61.

Dorchester Minerals (NASDAQ:DMLP) last issued its earnings results on Thursday, November 6th. The energy company reported $0.23 earnings per share (EPS) for the quarter. Dorchester Minerals had a net margin of 36.27% and a return on equity of 16.22%.

Dorchester Minerals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 3rd were given a dividend of $0.6899 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 11.9%. This is an increase from Dorchester Minerals’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 3rd. Dorchester Minerals’s payout ratio is presently 255.56%.

Insider Transactions at Dorchester Minerals

In other news, Director Frank Damon Box bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was purchased at an average cost of $21.96 per share, with a total value of $109,800.00. Following the transaction, the director directly owned 9,000 shares in the company, valued at $197,640. This trade represents a 125.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Bradley J. Ehrman acquired 2,487 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average cost of $21.60 per share, with a total value of $53,719.20. Following the completion of the acquisition, the chief executive officer directly owned 121,197 shares of the company’s stock, valued at approximately $2,617,855.20. This trade represents a 2.10% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 16,338 shares of company stock valued at $353,133 over the last quarter. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Dorchester Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Winch Advisory Services LLC purchased a new position in Dorchester Minerals in the second quarter valued at approximately $28,000. Geneos Wealth Management Inc. increased its position in shares of Dorchester Minerals by 59.9% in the first quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company’s stock worth $35,000 after acquiring an additional 440 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Dorchester Minerals in the 2nd quarter valued at $33,000. PNC Financial Services Group Inc. lifted its holdings in shares of Dorchester Minerals by 157.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,570 shares of the energy company’s stock valued at $72,000 after acquiring an additional 1,570 shares in the last quarter. Finally, Osaic Holdings Inc. boosted 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 worth $104,000 after purchasing an additional 463 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. engages in the acquisition, ownership, and administration of royalty properties in the United States. Its royalty properties include producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests in 593 counties and parishes in 28 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.