Dorchester Minerals (NASDAQ:DMLP) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.16 and traded as high as $27.48. Dorchester Minerals shares last traded at $27.22, with a volume of 104,584 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DMLP shares. Wall Street Zen raised shares of Dorchester Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Dorchester Minerals in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Dorchester Minerals Price Performance

The company has a fifty day moving average price of $26.68 and a 200 day moving average price of $26.16. The stock has a market cap of $1.31 billion, a P/E ratio of 19.58 and a beta of 0.55.

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

Dorchester Minerals Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 4th were issued a dividend of $0.475 per share. The ex-dividend date was Monday, May 4th. This represents a $1.90 annualized dividend and a yield of 7.0%. Dorchester Minerals’s dividend payout ratio is presently 136.69%.

Insiders Place Their Bets

In other Dorchester Minerals news, CEO Bradley J. Ehrman bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $26.78 per share, with a total value of $107,120.00. Following the completion of the transaction, the chief executive officer directly owned 142,723 shares in the company, valued at approximately $3,822,121.94. The trade was a 2.88% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Minerals Operating Dorchester bought 7,500 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $27.56 per share, for a total transaction of $206,700.00. Following the acquisition, the insider directly owned 70,017 shares in the company, valued at $1,929,668.52. The trade was a 12.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders acquired 19,000 shares of company stock worth $526,070 over the last ninety days. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Dorchester Minerals

A number of hedge funds have recently added to or reduced their stakes in DMLP. Geneos Wealth Management Inc. raised its stake 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 purchasing an additional 440 shares during the last quarter. Farther Finance Advisors LLC purchased a new position in shares of Dorchester Minerals during the fourth quarter valued at approximately $36,000. Kestra Advisory Services LLC purchased a new position in shares of Dorchester Minerals during the fourth quarter valued at approximately $68,000. EverSource Wealth Advisors LLC grew its holdings in Dorchester Minerals by 4,918.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,061 shares of the energy company’s stock worth $68,000 after buying an additional 3,000 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Dorchester Minerals by 14.1% during the second quarter. Osaic Holdings Inc. now owns 3,748 shares of the energy company’s stock worth $104,000 after buying an additional 463 shares in the last quarter. Institutional investors and hedge funds own 19.21% of the company’s stock.

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.