Dorchester Minerals, L.P. (NASDAQ:DMLP) Sees Large Increase in Short Interest

Dorchester Minerals, L.P. (NASDAQ:DMLP) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 432,400 shares, a growth of 21.2% from the February 13th total of 356,900 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily volume of 161,900 shares, the short-interest ratio is presently 2.7 days.

Insider Buying and Selling

In other Dorchester Minerals news, CEO Bradley J. Ehrman acquired 3,356 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $29.80 per share, with a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Minerals Operating Dorchester bought 6,500 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $32.21 per share, for a total transaction of $209,365.00. Following the purchase, the insider now owns 28,728 shares in the company, valued at approximately $925,328.88. This trade represents a 29.24 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 29,145 shares of company stock valued at $921,407. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Dorchester Minerals

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Dorchester Minerals by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 24,834 shares of the energy company’s stock valued at $749,000 after purchasing an additional 1,109 shares in the last quarter. Capital Advisory Group Advisory Services LLC acquired a new stake in Dorchester Minerals during the 4th quarter valued at $837,000. Fisher Asset Management LLC acquired a new stake in Dorchester Minerals during the 4th quarter valued at $650,000. Round Rock Advisors LLC acquired a new position in Dorchester Minerals during the 4th quarter worth $3,877,000. Finally, HighTower Advisors LLC grew its holdings in Dorchester Minerals by 38.4% during the 3rd quarter. HighTower Advisors LLC now owns 11,515 shares of the energy company’s stock worth $348,000 after acquiring an additional 3,192 shares in the last quarter. 19.21% of the stock is owned by institutional investors and hedge funds.

Dorchester Minerals Stock Down 0.0 %

Shares of DMLP stock traded down $0.01 during mid-day trading on Wednesday, reaching $29.86. The company’s stock had a trading volume of 63,640 shares, compared to its average volume of 90,356. The company’s 50 day simple moving average is $31.54 and its 200-day simple moving average is $31.91. Dorchester Minerals has a 12-month low of $28.25 and a 12-month high of $35.74. The firm has a market capitalization of $1.41 billion, a PE ratio of 14.08 and a beta of 1.08.

Dorchester Minerals (NASDAQ:DMLP) last issued its earnings results on Thursday, February 20th. The energy company reported $0.24 EPS for the quarter. The business 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 company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 3rd were issued a dividend of $0.7394 per share. This represents a $2.96 dividend on an annualized basis and a yield of 9.90%. The ex-dividend date was Monday, February 3rd. Dorchester Minerals’s payout ratio is 139.15%.

Analysts Set New Price Targets

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

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.