Burford Brothers Inc. lessened its holdings in shares of Dorchester Minerals, L.P. (NASDAQ:DMLP – Free Report) by 13.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,210 shares of the energy company’s stock after selling 5,862 shares during the period. Burford Brothers Inc. owned 0.08% of Dorchester Minerals worth $1,009,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. raised its holdings in Dorchester Minerals by 59.9% during 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 in the last quarter. MADDEN SECURITIES Corp increased its position in shares of Dorchester Minerals by 3.9% in the second quarter. MADDEN SECURITIES Corp now owns 13,382 shares of the energy company’s stock worth $373,000 after acquiring an additional 500 shares in the last quarter. Flagship Harbor Advisors LLC lifted its holdings in shares of Dorchester Minerals by 9.1% in the first quarter. Flagship Harbor Advisors LLC now owns 9,583 shares of the energy company’s stock valued at $288,000 after purchasing an additional 796 shares in the last quarter. HWG Holdings LP acquired a new stake in Dorchester Minerals during the 1st quarter worth about $29,000. Finally, Apollon Wealth Management LLC lifted its position in Dorchester Minerals by 25.9% in the 1st quarter. Apollon Wealth Management LLC now owns 8,623 shares of the energy company’s stock worth $259,000 after buying an additional 1,775 shares in the last quarter. Institutional investors and hedge funds own 19.21% of the company’s stock.
Dorchester Minerals Stock Down 0.4%
Shares of NASDAQ:DMLP opened at $23.82 on Friday. The company’s 50-day moving average price is $25.02 and its two-hundred day moving average price is $26.87. Dorchester Minerals, L.P. has a 12 month low of $23.63 and a 12 month high of $34.88. The firm has a market cap of $1.13 billion, a P/E ratio of 13.85 and a beta of 0.61.
Dorchester Minerals Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 4th were issued a $0.6202 dividend. The ex-dividend date was Monday, August 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 10.4%. Dorchester Minerals’s dividend payout ratio (DPR) is 144.19%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dorchester Minerals in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.
View Our Latest Stock Analysis on Dorchester Minerals
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.
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