Welch & Forbes LLC Has $260,000 Position in Dorchester Minerals, L.P. (NASDAQ:DMLP)
Welch & Forbes LLC held its stake in shares of Dorchester Minerals, L.P. (NASDAQ:DMLP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,000 shares of the energy company’s stock at the end of the second quarter. Welch & Forbes LLC’s holdings in Dorchester Minerals, L.P. were worth $260,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of DMLP. Mraz Amerine & Associates Inc. boosted its stake in shares of Dorchester Minerals, L.P. by 38.6% in the second quarter. Mraz Amerine & Associates Inc. now owns 37,170 shares of the energy company’s stock worth $537,000 after buying an additional 10,354 shares during the period. Lee Financial Co boosted its stake in shares of Dorchester Minerals, L.P. by 9.5% in the second quarter. Lee Financial Co now owns 23,001 shares of the energy company’s stock worth $332,000 after buying an additional 2,000 shares during the period. Finally, First Manhattan Co. boosted its stake in shares of Dorchester Minerals, L.P. by 4.7% in the second quarter. First Manhattan Co. now owns 16,650 shares of the energy company’s stock worth $240,000 after buying an additional 750 shares during the period. Institutional investors and hedge funds own 14.28% of the company’s stock.
Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP) opened at 14.65 on Tuesday. The company’s 50 day moving average price is $14.94 and its 200-day moving average price is $16.45. The stock has a market capitalization of $449.39 million, a PE ratio of 16.63 and a beta of 0.79. Dorchester Minerals, L.P. has a 52 week low of $14.21 and a 52 week high of $19.30.
Dorchester Minerals, L.P. (NASDAQ:DMLP) last released its earnings results on Thursday, August 3rd. The energy company reported $0.26 earnings per share (EPS) for the quarter. The firm had revenue of $12.55 million during the quarter. Dorchester Minerals, L.P. had a return on equity of 41.71% and a net margin of 65.28%.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Monday, July 31st will be issued a $0.323 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.29 dividend on an annualized basis and a yield of 8.82%. Dorchester Minerals, L.P.’s dividend payout ratio (DPR) is presently 135.79%.
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A number of equities research analysts recently weighed in on DMLP shares. BidaskClub cut Dorchester Minerals, L.P. from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. TheStreet upgraded Dorchester Minerals, L.P. from a “c+” rating to a “b” rating in a research note on Friday, May 26th.
In related news, Vice Chairman James E. Raley bought 19,252 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The stock was purchased at an average cost of $14.98 per share, for a total transaction of $288,394.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Leslie A. Moriyama bought 6,417 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The stock was bought at an average price of $14.98 per share, with a total value of $96,126.66. Following the completion of the acquisition, the chief financial officer now owns 10,494 shares of the company’s stock, valued at approximately $157,200.12. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 243,859 shares of company stock valued at $3,653,008. 9.20% of the stock is currently owned by company insiders.
About Dorchester Minerals, L.P.
Dorchester Minerals, L.P. is a limited partnership company. The Company is engaged in the acquisition, ownership and administration of Royalty Properties and net profits interests (NPIs). As of December 31, 2016, the Royalty Properties consisted of producing and nonproducing mineral, royalty, overriding royalty, net profits and leasehold interests located in 574 counties and parishes in 25 states.
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