Dorchester Minerals (NASDAQ:DMLP) Hits New 52-Week Low – What’s Next?

Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP) reached a new 52-week low during trading on Tuesday . The company traded as low as $23.30 and last traded at $23.67, with a volume of 18485 shares traded. The stock had previously closed at $23.69.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Dorchester Minerals in a research report on Wednesday, October 8th. One research 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 Down 0.3%

The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 13.73 and a beta of 0.61. The firm’s 50 day moving average is $25.06 and its 200 day moving average is $26.60.

Dorchester Minerals (NASDAQ:DMLP) last released its earnings results on Thursday, August 7th. The energy company reported $0.25 EPS for the quarter. The business had revenue of $32.40 million during the quarter. Dorchester Minerals had a net margin of 47.35% and a return on equity of 22.49%.

Dorchester Minerals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 3rd will be given a $0.6899 dividend. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 3rd. This represents a $2.76 annualized dividend and a dividend yield of 11.7%. Dorchester Minerals’s payout ratio is currently 160.47%.

Institutional Investors Weigh In On Dorchester Minerals

Hedge funds have recently made changes to their positions in the company. Winch Advisory Services LLC purchased a new stake in shares of Dorchester Minerals in the 2nd quarter valued at approximately $28,000. Geneos Wealth Management Inc. lifted its position in shares of Dorchester Minerals by 59.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company’s stock valued at $35,000 after acquiring an additional 440 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Dorchester Minerals in the 2nd quarter valued at approximately $33,000. PNC Financial Services Group Inc. lifted its position in shares of Dorchester Minerals by 157.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,570 shares of the energy company’s stock valued at $72,000 after acquiring an additional 1,570 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in Dorchester Minerals by 14.1% in the 2nd quarter. Osaic Holdings Inc. now owns 3,748 shares of the energy company’s stock valued at $104,000 after buying an additional 463 shares during the period. Hedge funds and other institutional investors own 19.21% of the company’s stock.

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.