Dorchester Minerals (NASDAQ:DMLP) Issues Earnings Results

Dorchester Minerals (NASDAQ:DMLP) released its quarterly earnings data on Thursday. The energy company reported $0.23 earnings per share (EPS) for the quarter, Zacks reports. Dorchester Minerals had a net margin of 47.35% and a return on equity of 22.49%.

Dorchester Minerals Stock Up 2.1%

Shares of NASDAQ:DMLP opened at $23.47 on Friday. The firm has a fifty day simple moving average of $24.98 and a two-hundred day simple moving average of $26.51. The stock has a market capitalization of $1.11 billion, a P/E ratio of 13.65 and a beta of 0.60. Dorchester Minerals has a 52 week low of $22.81 and a 52 week high of $34.88.

Dorchester Minerals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 3rd will be paid a $0.6899 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 11.8%. The ex-dividend date of this dividend is Monday, November 3rd. This is an increase from Dorchester Minerals’s previous quarterly dividend of $0.62. Dorchester Minerals’s dividend payout ratio is 160.47%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dorchester Minerals in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Dorchester Minerals

Large investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its stake in shares of Dorchester Minerals by 59.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company’s stock valued at $35,000 after purchasing an additional 440 shares during the last quarter. Osaic Holdings Inc. increased its position in shares of Dorchester Minerals by 14.1% during the 2nd quarter. Osaic Holdings Inc. now owns 3,748 shares of the energy company’s stock valued at $104,000 after purchasing an additional 463 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Dorchester Minerals during the 2nd quarter valued at $293,000. JPMorgan Chase & Co. raised its holdings in Dorchester Minerals by 17.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,815 shares of the energy company’s stock valued at $301,000 after buying an additional 1,570 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its position in Dorchester Minerals by 25.8% in the second quarter. Peapack Gladstone Financial Corp now owns 13,182 shares of the energy company’s stock worth $367,000 after buying an additional 2,700 shares during the last quarter. 19.21% of the stock is owned by institutional investors.

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.