Dorchester Minerals (NASDAQ:DMLP) Shares Cross Above 200 Day Moving Average – What’s Next?

Dorchester Minerals, L.P. (NASDAQ:DMLP) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $25.80 and traded as high as $26.32. Dorchester Minerals shares last traded at $25.63, with a volume of 48,026 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DMLP. Weiss Ratings restated a “hold (c)” rating on shares of Dorchester Minerals in a research note on Wednesday. Wall Street Zen upgraded Dorchester Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Dorchester Minerals has a consensus rating of “Hold”.

Dorchester Minerals Stock Performance

The business’s fifty day simple moving average is $27.18 and its 200-day simple moving average is $25.80. The firm has a market capitalization of $1.24 billion, a PE ratio of 18.44 and a beta of 0.54.

Dorchester Minerals (NASDAQ:DMLP) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.59 earnings per share (EPS) for the quarter. Dorchester Minerals had a net margin of 40.85% and a return on equity of 22.11%. The firm had revenue of $58.88 million for the quarter.

Dorchester Minerals Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 4th were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date was Monday, May 4th. Dorchester Minerals’s payout ratio is currently 136.69%.

Insiders Place Their Bets

In related news, CEO Bradley J. Ehrman purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $26.78 per share, for a total transaction of $107,120.00. Following the purchase, the chief executive officer directly owned 142,723 shares in the company, valued at $3,822,121.94. This trade represents a 2.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Minerals Operating Dorchester acquired 7,500 shares of the company’s stock in a transaction on Monday, June 1st. The shares were bought at an average cost of $27.56 per share, with a total value of $206,700.00. Following the acquisition, the insider directly owned 70,017 shares in the company, valued at approximately $1,929,668.52. The trade was a 12.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders acquired 19,000 shares of company stock worth $526,070. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dorchester Minerals

A number of hedge funds have recently made changes to their positions in the company. Hollow Brook Wealth Management LLC bought a new position in Dorchester Minerals during the third quarter valued at approximately $20,790,000. MidFirst Bank bought a new stake in Dorchester Minerals in the 4th quarter worth approximately $11,049,000. Adams Asset Advisors LLC raised its holdings in shares of Dorchester Minerals by 9.1% during the 4th quarter. Adams Asset Advisors LLC now owns 814,852 shares of the energy company’s stock worth $18,220,000 after acquiring an additional 68,177 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Dorchester Minerals during the 2nd quarter worth approximately $1,855,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Dorchester Minerals by 147.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 98,028 shares of the energy company’s stock valued at $2,192,000 after acquiring an additional 58,430 shares during the last quarter. 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 master limited partnership that acquires, owns and manages mineral and royalty interests in oil and natural gas properties. The company holds net revenue interests on producing and non-producing wells, entitling it to a share of production proceeds without bearing the costs or operating responsibilities associated with exploration and development activities. Through strategic acquisitions and joint-venture arrangements, Dorchester Minerals builds a diversified portfolio of royalty assets across multiple U.S.