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

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

Dorchester Minerals Stock Performance

Shares of Dorchester Minerals stock opened at $31.00 on Monday. The stock has a 50 day moving average of $32.46 and a 200 day moving average of $32.00. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 14.62 and a beta of 1.07. Dorchester Minerals has a fifty-two week low of $28.41 and a fifty-two week high of $35.74.

Dorchester Minerals (NASDAQ:DMLP) last issued its quarterly earnings results on Thursday, February 20th. The energy company reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $39.71 million 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 3rd were given a dividend of $0.7394 per share. The ex-dividend date was Monday, February 3rd. This represents a $2.96 annualized dividend and a dividend yield of 9.54%. Dorchester Minerals’s dividend payout ratio is presently 139.15%.

Insider Activity at Dorchester Minerals

In other Dorchester Minerals news, insider Minerals Operating Dorchester purchased 6,500 shares of the stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $32.21 per share, for a total transaction of $209,365.00. Following the completion of the transaction, the insider now directly owns 28,728 shares of the company’s stock, valued at $925,328.88. This trade represents a 29.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Leslie A. Moriyama acquired 12,050 shares of Dorchester Minerals stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average cost of $34.41 per share, for a total transaction of $414,640.50. Following the purchase, the chief financial officer now directly owns 83,450 shares of the company’s stock, valued at approximately $2,871,514.50. This trade represents a 16.88 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 52,269 shares of company stock valued at $1,732,575 in the last three months. 7.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dorchester Minerals

Hedge funds have recently made changes to their positions in the business. Graney & King LLC purchased a new position in Dorchester Minerals in the 4th quarter worth approximately $28,000. Tower Research Capital LLC TRC lifted its position in shares of Dorchester Minerals by 638.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the energy company’s stock worth $37,000 after purchasing an additional 952 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Dorchester Minerals by 62.6% in the third quarter. JPMorgan Chase & Co. now owns 1,444 shares of the energy company’s stock valued at $44,000 after purchasing an additional 556 shares during the period. LGT Financial Advisors LLC acquired a new stake in Dorchester Minerals during the 3rd quarter valued at $166,000. Finally, Virtus ETF Advisers LLC increased its stake in Dorchester Minerals by 7.5% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,729 shares of the energy company’s stock worth $191,000 after buying an additional 402 shares during the period. Hedge funds and other institutional investors own 19.21% of the company’s stock.

About Dorchester Minerals

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.