Cresset Asset Management LLC Takes Position in Dorchester Minerals, L.P. (NASDAQ:DMLP)

Cresset Asset Management LLC bought a new position in Dorchester Minerals, L.P. (NASDAQ:DMLP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 42,978 shares of the energy company’s stock, valued at approximately $1,432,000. Cresset Asset Management LLC owned about 0.09% of Dorchester Minerals as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cetera Investment Advisers purchased a new position in Dorchester Minerals in the 4th quarter worth about $200,000. Mercer Global Advisors Inc. ADV increased its position in shares of Dorchester Minerals by 17.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,250 shares of the energy company’s stock worth $275,000 after acquiring an additional 1,250 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Dorchester Minerals during the fourth quarter valued at approximately $871,000. Beacon Pointe Advisors LLC raised its stake in Dorchester Minerals by 27.5% during the 4th quarter. Beacon Pointe Advisors LLC now owns 46,453 shares of the energy company’s stock valued at $1,548,000 after purchasing an additional 10,006 shares during the period. Finally, Virtus ETF Advisers LLC boosted its position in shares of Dorchester Minerals by 7.5% in the fourth 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. 19.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Dorchester Minerals from a “buy” rating to a “hold” rating in a research note on Monday, February 24th.

Insider Activity at Dorchester Minerals

In other Dorchester Minerals news, insider Minerals Operating Dorchester acquired 10,000 shares of Dorchester Minerals stock in a transaction that occurred on Wednesday, April 30th. The stock was acquired at an average price of $28.76 per share, with a total value of $287,600.00. Following the purchase, the insider now owns 58,017 shares in the company, valued at approximately $1,668,568.92. This trade represents a 20.83 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bradley J. Ehrman bought 3,356 shares of the stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $29.80 per share, for a total transaction of $100,008.80. Following the completion of the transaction, the chief executive officer now directly owns 117,710 shares of the company’s stock, valued at approximately $3,507,758. The trade was a 2.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.90% of the stock is currently owned by company insiders.

Dorchester Minerals Stock Performance

Shares of DMLP opened at $27.84 on Friday. The company has a market capitalization of $1.32 billion, a PE ratio of 13.13 and a beta of 0.62. The company’s 50 day moving average price is $29.07 and its 200 day moving average price is $31.36. Dorchester Minerals, L.P. has a 52 week low of $25.84 and a 52 week high of $34.88.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings results on Thursday, May 8th. The energy company reported $0.36 earnings per share 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 company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a dividend of $0.7258 per share. The ex-dividend date is Monday, May 5th. This represents a $2.90 annualized dividend and a dividend yield of 10.43%. Dorchester Minerals’s dividend payout ratio is 136.79%.

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.