Dorchester Minerals (NASDAQ:DMLP) Releases Quarterly Earnings Results

Dorchester Minerals (NASDAQ:DMLP) issued its quarterly earnings data on Thursday. The energy company reported $0.54 earnings per share (EPS) for the quarter, Zacks reports. Dorchester Minerals had a return on equity of 28.43% and a net margin of 45.45%.

Dorchester Minerals Trading Down 2.0%

DMLP traded down $0.55 during trading on Thursday, hitting $27.26. The company’s stock had a trading volume of 215,928 shares, compared to its average volume of 162,034. Dorchester Minerals has a twelve month low of $20.85 and a twelve month high of $31.08. The business’s fifty day simple moving average is $29.42 and its 200 day simple moving average is $27.41. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 15.49 and a beta of 0.65.

Dorchester Minerals Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd will be issued a $0.8823 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This is a decrease from Dorchester Minerals’s previous quarterly dividend of $1.2729. This represents a $3.53 annualized dividend and a yield of 12.9%. Dorchester Minerals’s dividend payout ratio is 200.57%.

Insider Activity at Dorchester Minerals

In other Dorchester Minerals news, CFO Leslie Moriyama bought 5,197 shares of Dorchester Minerals stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average cost of $28.30 per share, with a total value of $147,075.10. Following the purchase, the chief financial officer directly owned 103,405 shares in the company, valued at $2,926,361.50. This represents a 5.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.