Dorchester Minerals (NASDAQ:DMLP) Posts Quarterly Earnings Results

Dorchester Minerals (NASDAQ:DMLP) issued its quarterly earnings data on Thursday. The energy company reported $0.62 EPS for the quarter, Zacks reports. Dorchester Minerals had a net margin of 40.85% and a return on equity of 22.11%. The business had revenue of $56.08 million for the quarter.

Dorchester Minerals Stock Up 1.0%

Shares of NASDAQ:DMLP traded up $0.26 during midday trading on Friday, reaching $26.08. The company had a trading volume of 94,004 shares, compared to its average volume of 282,778. Dorchester Minerals has a 1-year low of $20.85 and a 1-year high of $28.95. The stock has a market cap of $1.26 billion, a PE ratio of 18.76 and a beta of 0.54. The business’s 50 day moving average price is $26.53 and its 200 day moving average price is $26.61.

Dorchester Minerals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 3rd will be issued a $1.2729 dividend. This represents a $5.09 annualized dividend and a dividend yield of 19.5%. The ex-dividend date is Monday, August 3rd. This is a positive change from Dorchester Minerals’s previous quarterly dividend of $0.48. Dorchester Minerals’s dividend payout ratio is 366.19%.

Wall Street Analyst Weigh In

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

Insider Activity at Dorchester Minerals

In related news, insider Minerals Operating Dorchester purchased 7,500 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was purchased at an average cost of $27.56 per share, for a total transaction of $206,700.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bradley J. Ehrman purchased 4,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $26.78 per share, for a total transaction of $107,120.00. Following the transaction, the chief executive officer directly owned 142,723 shares in the company, valued at approximately $3,822,121.94. The trade was a 2.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 19,000 shares of company stock valued at $526,070 over the last three months. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Dorchester Minerals

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Dorchester Minerals by 5.4% in the 1st quarter. Royal Bank of Canada now owns 74,470 shares of the energy company’s stock valued at $2,240,000 after acquiring an additional 3,785 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Dorchester Minerals by 6.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 35,684 shares of the energy company’s stock valued at $1,073,000 after purchasing an additional 2,101 shares during the period. Geneos Wealth Management Inc. raised its holdings 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 purchasing an additional 440 shares during the period. Cetera Investment Advisers acquired a new stake in Dorchester Minerals in the 2nd quarter valued at about $293,000. Finally, JPMorgan Chase & Co. lifted its stake in Dorchester Minerals by 17.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,815 shares of the energy company’s stock valued at $301,000 after purchasing an additional 1,570 shares during the last quarter. 19.21% of the stock is currently owned by institutional investors and hedge funds.

About Dorchester Minerals

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.