Dorchester Minerals (NASDAQ:DMLP) Hits New 52-Week High – Should You Buy?

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s stock price hit a new 52-week high on Thursday. The company traded as high as $31.07 and last traded at $30.8150, with a volume of 5,912 shares. The stock had previously closed at $30.69.

Wall Street Analysts Forecast Growth

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

Dorchester Minerals Trading Down 2.1%

The company has a market capitalization of $1.46 billion, a P/E ratio of 16.93 and a beta of 0.64. The company’s fifty day moving average is $29.48 and its 200 day moving average is $27.34.

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

Dorchester Minerals Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, November 2nd will be paid a dividend of $0.8823 per share. This is a negative change from Dorchester Minerals’s previous quarterly dividend of $1.2729. This represents a $3.53 annualized dividend and a yield of 11.8%. The ex-dividend date of this dividend is Monday, November 2nd. Dorchester Minerals’s dividend payout ratio is 289.20%.

Insider Buying and Selling at Dorchester Minerals

In related news, CFO Leslie Moriyama bought 5,197 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 103,405 shares in the company, valued at $2,926,361.50. This trade represents a 5.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Dorchester Minerals

Hedge funds have recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. bought a new stake in Dorchester Minerals during the second quarter worth about $25,000. MADDEN SECURITIES Corp bought a new position in shares of Dorchester Minerals during the 3rd quarter valued at about $113,000. State of Wyoming increased its position in shares of Dorchester Minerals by 6.9% during the 3rd quarter. State of Wyoming now owns 5,308 shares of the energy company’s stock valued at $149,000 after purchasing an additional 344 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Dorchester Minerals during the 3rd quarter valued at about $201,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Dorchester Minerals during the 1st quarter valued at about $209,000. 19.21% of the stock is owned by institutional investors.

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.