Dorchester Minerals (NASDAQ:DMLP) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Dorchester Minerals (NASDAQ:DMLP) from a buy rating to a hold rating in a report issued on Monday morning.

Dorchester Minerals Trading Down 0.7 %

DMLP opened at $30.65 on Monday. The stock’s 50-day moving average price is $33.05 and its 200 day moving average price is $31.21. Dorchester Minerals has a 12-month low of $27.16 and a 12-month high of $35.74. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 11.93 and a beta of 1.10.

Dorchester Minerals (NASDAQ:DMLP) last announced its quarterly earnings data on Thursday, February 22nd. The energy company reported $0.90 earnings per share for the quarter. The firm had revenue of $50.42 million during the quarter. Dorchester Minerals had a net margin of 66.57% and a return on equity of 59.35%.

Dorchester Minerals Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, April 29th will be issued a $0.782 dividend. The ex-dividend date is Friday, April 26th. This represents a $3.13 annualized dividend and a yield of 10.21%. Dorchester Minerals’s dividend payout ratio (DPR) is 121.79%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in shares of Dorchester Minerals during the 1st quarter worth $25,000. Newbridge Financial Services Group Inc. purchased a new stake in Dorchester Minerals during the 1st quarter worth about $34,000. Tower Research Capital LLC TRC boosted its position in shares of Dorchester Minerals by 240.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,068 shares of the energy company’s stock worth $34,000 after acquiring an additional 754 shares in the last quarter. Citigroup Inc. boosted 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 worth $77,000 after acquiring an additional 2,584 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Dorchester Minerals in the 1st quarter valued at about $110,000. Institutional investors and hedge funds 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.