Dorchester Minerals (NASDAQ:DMLP) Shares Cross Above 200 Day Moving Average – Here’s Why

Dorchester Minerals, L.P. (NASDAQ:DMLP) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.47 and traded as high as $27.77. Dorchester Minerals shares last traded at $27.53, with a volume of 82,536 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on DMLP shares. Wall Street Zen raised shares of Dorchester Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of Dorchester Minerals from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Dorchester Minerals presently has a consensus rating of “Hold”.

Dorchester Minerals Stock Performance

The stock has a market cap of $1.30 billion, a PE ratio of 19.33 and a beta of 0.54. The company’s 50 day simple moving average is $27.64 and its 200 day simple moving average is $25.53.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.59 EPS for the quarter. The firm had revenue of $58.88 million during the quarter. Dorchester Minerals had a net margin of 40.85% and a return on equity of 22.11%.

Dorchester Minerals Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 4th were paid a $0.475 dividend. The ex-dividend date was Monday, May 4th. This represents a $1.90 annualized dividend and a yield of 7.1%. Dorchester Minerals’s dividend payout ratio (DPR) is 136.69%.

Insider Activity

In other news, insider Minerals Operating Dorchester acquired 7,500 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was purchased at an average price of $27.56 per share, for a total transaction of $206,700.00. Following the purchase, the insider owned 70,017 shares in the company, valued at approximately $1,929,668.52. This represents a 12.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bradley J. Ehrman acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $26.78 per share, with a total value of $107,120.00. Following the purchase, the chief executive officer owned 142,723 shares in the company, valued at approximately $3,822,121.94. The trade was a 2.88% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 19,000 shares of company stock valued at $526,070. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Dorchester Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in DMLP. Geneos Wealth Management Inc. increased its stake in shares of Dorchester Minerals by 59.9% during the 1st 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 during the last quarter. Farther Finance Advisors LLC purchased a new stake in shares of Dorchester Minerals during the 4th quarter worth approximately $36,000. Kestra Advisory Services LLC purchased a new stake in shares of Dorchester Minerals during the 4th quarter worth approximately $68,000. EverSource Wealth Advisors LLC increased its stake in shares of Dorchester Minerals by 4,918.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,061 shares of the energy company’s stock worth $68,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Osaic Holdings Inc. increased its stake 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 worth $104,000 after purchasing an additional 463 shares during the last quarter. Hedge funds and other institutional investors own 19.21% of the company’s stock.

About Dorchester Minerals

Dorchester Minerals, L.P. (NASDAQ: DMLP) is a publicly traded master limited partnership that acquires, owns and manages mineral and royalty interests in oil and natural gas properties. The company holds net revenue interests on producing and non-producing wells, entitling it to a share of production proceeds without bearing the costs or operating responsibilities associated with exploration and development activities. Through strategic acquisitions and joint-venture arrangements, Dorchester Minerals builds a diversified portfolio of royalty assets across multiple U.S.