First Trust Advisors LP Grows Position in Dorchester Minerals, L.P. $DMLP

First Trust Advisors LP grew its position in Dorchester Minerals, L.P. (NASDAQ:DMLP) by 24.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,031 shares of the energy company’s stock after acquiring an additional 34,191 shares during the quarter. First Trust Advisors LP’s holdings in Dorchester Minerals were worth $4,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of DMLP. Bank of New York Mellon Corp bought a new position in shares of Dorchester Minerals during the 1st quarter valued at approximately $209,000. Geneos Wealth Management Inc. raised its holdings in shares of Dorchester Minerals by 11.5% in the first quarter. Geneos Wealth Management Inc. now owns 109,291 shares of the energy company’s stock worth $2,962,000 after buying an additional 11,263 shares during the period. Azzad Asset Management Inc. ADV bought a new stake in shares of Dorchester Minerals during the 1st quarter worth approximately $252,000. SageGuard Financial Group LLC purchased a new position in Dorchester Minerals during the 1st quarter valued at $470,000. Finally, Kestra Private Wealth Services LLC grew its position in Dorchester Minerals by 10.0% in the 1st quarter. Kestra Private Wealth Services LLC now owns 18,160 shares of the energy company’s stock valued at $492,000 after acquiring an additional 1,652 shares during the last quarter. 19.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Dorchester Minerals news, CEO Bradley J. Ehrman purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $26.78 per share, for a total transaction of $107,120.00. Following the purchase, the chief executive officer directly owned 142,723 shares in the company, valued at approximately $3,822,121.94. This trade represents a 2.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Minerals Operating Dorchester purchased 7,500 shares of Dorchester Minerals stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $27.56 per share, with a total value of $206,700.00. Following the acquisition, the insider directly owned 70,017 shares in the company, valued at $1,929,668.52. This trade represents a 12.00% increase in their position. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders acquired 19,000 shares of company stock valued at $526,070 in the last ninety days. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DMLP has been the subject of several research analyst reports. Wall Street Zen upgraded Dorchester Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dorchester Minerals in a research report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Dorchester Minerals Stock Performance

Shares of DMLP opened at $25.48 on Wednesday. The stock has a 50-day moving average of $26.60 and a two-hundred day moving average of $26.58. The stock has a market cap of $1.23 billion, a P/E ratio of 18.33 and a beta of 0.54. Dorchester Minerals, L.P. has a one year low of $20.85 and a one year high of $28.95.

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

Dorchester Minerals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 3rd will be given a dividend of $1.2729 per share. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.48. This represents a $5.09 annualized dividend and a yield of 20.0%. The ex-dividend date is Monday, August 3rd. Dorchester Minerals’s dividend payout ratio (DPR) is 366.19%.

Dorchester Minerals Company Profile

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.