Dorchester Minerals (NASDAQ:DMLP) Reaches New 1-Year High – Still a Buy?

Dorchester Minerals, L.P. (NASDAQ:DMLP) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $29.60 and last traded at $29.3050, with a volume of 100 shares changing hands. The stock had previously closed at $29.21.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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 currently has an average rating of “Hold”.

Dorchester Minerals Stock Performance

The firm has a fifty day moving average price of $27.33 and a 200 day moving average price of $27.18. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 16.65 and a beta of 0.55.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings results on Thursday, August 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter. The firm had revenue of $56.08 million for the quarter. Dorchester Minerals had a net margin of 45.45% and a return on equity of 28.43%.

Dorchester Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 3rd were paid a dividend of $1.2729 per share. The ex-dividend date was Monday, August 3rd. This represents a $5.09 annualized dividend and a dividend yield of 17.4%. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.48. Dorchester Minerals’s dividend payout ratio (DPR) is presently 289.20%.

Insider Transactions at Dorchester Minerals

In other news, CFO Leslie Moriyama bought 5,197 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average cost of $28.30 per share, for a total transaction of $147,075.10. Following the purchase, the chief financial officer owned 103,405 shares of the company’s stock, valued at approximately $2,926,361.50. This trade represents a 5.29% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Dorchester Minerals

Institutional investors and hedge funds have recently bought and sold shares of the business. Burford Brothers Inc. lifted its position in shares of Dorchester Minerals by 73.1% in the second quarter. Burford Brothers Inc. now owns 51,761 shares of the energy company’s stock valued at $1,307,000 after buying an additional 21,865 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in shares of Dorchester Minerals during the 2nd quarter worth approximately $25,000. Trust Co. of Vermont acquired a new position in shares of Dorchester Minerals during the 2nd quarter worth approximately $348,000. Redhawk Wealth Advisors Inc. raised its stake in Dorchester Minerals by 83.6% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 17,743 shares of the energy company’s stock valued at $448,000 after acquiring an additional 8,079 shares during the period. Finally, Glenmede Trust Co. NA raised its stake in Dorchester Minerals by 58.0% in the 1st quarter. Glenmede Trust Co. NA now owns 54,502 shares of the energy company’s stock valued at $1,477,000 after acquiring an additional 20,000 shares during the period. Institutional investors own 19.21% of the company’s stock.

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.