Dorchester Minerals (NASDAQ:DMLP) Releases Earnings Results

Dorchester Minerals (NASDAQ:DMLP) released its earnings results on Thursday. The energy company reported $0.54 earnings per share (EPS) for the quarter, Zacks reports. Dorchester Minerals had a net margin of 45.45% and a return on equity of 28.43%.

Dorchester Minerals Stock Performance

Shares of DMLP stock traded down $0.55 during trading hours on Thursday, reaching $27.26. The company had a trading volume of 215,928 shares, compared to its average volume of 162,034. The stock has a fifty day moving average of $29.42 and a 200-day moving average of $27.41. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 15.49 and a beta of 0.65. Dorchester Minerals has a 12-month low of $20.85 and a 12-month high of $31.08.

Dorchester Minerals Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, November 2nd will be issued a dividend of $0.8823 per share. The ex-dividend date is Monday, November 2nd. This represents a $3.53 annualized dividend and a dividend yield of 12.9%. This is a decrease from Dorchester Minerals’s previous quarterly dividend of $1.2729. Dorchester Minerals’s payout ratio is presently 200.57%.

Insider Activity at Dorchester Minerals

In related news, CFO Leslie Moriyama acquired 5,197 shares of Dorchester Minerals stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average price of $28.30 per share, for a total transaction of $147,075.10. Following the completion of the transaction, the chief financial officer owned 103,405 shares in the company, valued at $2,926,361.50. This represents a 5.29% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Dorchester Minerals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Dorchester Minerals Company Profile

Dorchester Minerals, L.P. (NASDAQ:DMLP) is a publicly traded energy partnership that owns and manages mineral, royalty, overriding royalty, and net profits interests in oil and natural gas properties. Rather than operating wells directly, the company generally receives payments from exploration and production companies that develop and produce hydrocarbons from its properties.

The partnership’s assets are located across several major U.S. oil and gas regions, including the Permian Basin, the Haynesville and other Gulf Coast areas, the Anadarko Basin, and the Rocky Mountain region.