Dorchester Minerals (NASDAQ:DMLP) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Dorchester Minerals (NASDAQ:DMLP) from a hold rating to a buy rating in a report released on Tuesday morning.

Dorchester Minerals Stock Up 2.2%

DMLP stock opened at $28.70 on Tuesday. The company has a market capitalization of $1.36 billion, a P/E ratio of 13.54 and a beta of 0.62. The company has a 50-day simple moving average of $29.02 and a 200 day simple moving average of $31.30. Dorchester Minerals has a fifty-two week low of $25.84 and a fifty-two week high of $34.88.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings data on Thursday, May 8th. The energy company reported $0.36 earnings per share for the quarter. Dorchester Minerals had a net margin of 56.77% and a return on equity of 36.86%.

Dorchester Minerals Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid a dividend of $0.7258 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.90 annualized dividend and a yield of 10.12%. Dorchester Minerals’s dividend payout ratio (DPR) is presently 142.16%.

Insider Activity at Dorchester Minerals

In other news, CEO Bradley J. Ehrman purchased 3,356 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $29.80 per share, with a total value of $100,008.80. Following the purchase, the chief executive officer now owns 117,710 shares in the company, valued at $3,507,758. This represents a 2.93% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Minerals Operating Dorchester bought 10,000 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were bought at an average cost of $28.76 per share, with a total value of $287,600.00. Following the transaction, the insider now directly owns 58,017 shares of the company’s stock, valued at approximately $1,668,568.92. This trade represents a 20.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wealthedge Investment Advisors LLC acquired a new position in Dorchester Minerals during the first quarter worth $416,000. Virtu Financial LLC acquired a new position in Dorchester Minerals during the first quarter worth $655,000. LPL Financial LLC raised its stake in Dorchester Minerals by 5.5% during the first quarter. LPL Financial LLC now owns 60,337 shares of the energy company’s stock worth $1,815,000 after acquiring an additional 3,164 shares in the last quarter. Texas Yale Capital Corp. raised its stake in Dorchester Minerals by 57.8% during the first quarter. Texas Yale Capital Corp. now owns 121,950 shares of the energy company’s stock worth $3,668,000 after acquiring an additional 44,650 shares in the last quarter. Finally, Highlander Partners L.P. acquired a new position in Dorchester Minerals during the first quarter worth $995,000. 19.21% of the stock is currently owned by institutional investors and hedge funds.

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.