Dorchester Minerals (NASDAQ:DMLP) Shares Down 5.3%

Dorchester Minerals, L.P. (NASDAQ:DMLP) shares fell 5.3% on Friday . The stock traded as low as $31.40 and last traded at $31.43. 86,023 shares were traded during mid-day trading, an increase of 11% from the average session volume of 77,770 shares. The stock had previously closed at $33.18.

Analyst Ratings Changes

Separately, StockNews.com upgraded Dorchester Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, January 6th.

Dorchester Minerals Price Performance

The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 12.02 and a beta of 1.10. The company’s fifty day simple moving average is $33.04 and its two-hundred day simple moving average is $31.18.

Dorchester Minerals (NASDAQ:DMLP) last posted its earnings results on Thursday, February 22nd. The energy company reported $0.90 earnings per share for the quarter. The company had revenue of $50.42 million for the quarter. Dorchester Minerals had a net margin of 66.57% and a return on equity of 60.04%.

Dorchester Minerals Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, April 29th will be given a dividend of $0.782 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.13 annualized dividend and a dividend yield of 10.13%. Dorchester Minerals’s payout ratio is 121.79%.

Institutional Trading of Dorchester Minerals

Several institutional investors have recently made changes to their positions in DMLP. Citigroup Inc. lifted its position in shares of Dorchester Minerals by 4,306.7% during the 3rd quarter. Citigroup Inc. now owns 2,644 shares of the energy company’s stock valued at $77,000 after buying an additional 2,584 shares during the last quarter. HWG Holdings LP purchased a new stake in shares of Dorchester Minerals in the fourth quarter worth about $318,000. Alps Advisors Inc. boosted its position in shares of Dorchester Minerals by 8.5% in the third quarter. Alps Advisors Inc. now owns 11,893 shares of the energy company’s stock valued at $345,000 after acquiring an additional 933 shares during the period. HighTower Advisors LLC grew its stake in Dorchester Minerals by 181.1% during the third quarter. HighTower Advisors LLC now owns 19,094 shares of the energy company’s stock valued at $555,000 after acquiring an additional 12,302 shares in the last quarter. Finally, Kovack Advisors Inc. increased its holdings in Dorchester Minerals by 7.0% during the 4th quarter. Kovack Advisors Inc. now owns 8,025 shares of the energy company’s stock worth $255,000 after acquiring an additional 525 shares during the period. Institutional investors own 19.21% of the company’s stock.

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.