Dorchester Minerals (NASDAQ:DMLP) Sees Large Volume Increase

Dorchester Minerals, L.P. (NASDAQ:DMLP) shares saw unusually-strong trading volume on Monday . Approximately 157,474 shares were traded during trading, an increase of 97% from the previous session’s volume of 80,128 shares.The stock last traded at $30.00 and had previously closed at $30.88.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Dorchester Minerals from a “buy” rating to a “hold” rating in a research report on Monday.

Dorchester Minerals Stock Up 1.1 %

The stock’s 50 day simple moving average is $33.09 and its two-hundred day simple moving average is $31.23. The company has a market cap of $1.29 billion, a PE ratio of 12.49 and a beta of 1.10.

Dorchester Minerals (NASDAQ:DMLP) last released its quarterly earnings data on Thursday, February 22nd. The energy company reported $0.90 earnings per share (EPS) for the quarter. Dorchester Minerals had a net margin of 66.57% and a return on equity of 59.35%. The company had revenue of $50.42 million during the quarter.

Dorchester Minerals Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, April 29th will be given a $0.782 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.13 dividend on an annualized basis and a yield of 9.68%. Dorchester Minerals’s payout ratio is currently 121.40%.

Institutional Trading of Dorchester Minerals

Hedge funds have recently made changes to their positions in the stock. Chilton Capital Management LLC grew its position in shares of Dorchester Minerals by 190.5% in the 1st quarter. Chilton Capital Management LLC now owns 12,200 shares of the energy company’s stock worth $411,000 after acquiring an additional 8,000 shares in the last quarter. Atomi Financial Group Inc. acquired a new position in Dorchester Minerals during the first quarter worth about $212,000. Howland Capital Management LLC bought a new stake in shares of Dorchester Minerals during the 1st quarter worth $346,000. BNP Paribas Financial Markets purchased a new stake in Dorchester Minerals during the first quarter valued at about $110,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Dorchester Minerals during the 1st quarter valued at $15,347,000. Institutional investors and hedge funds 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.