Dorchester Minerals (NASDAQ:DMLP) Hits New 52-Week High - Here's Why

Key Points

• Dorchester Minerals reached a new 52-week high of $28.96, up from its prior close of $28.61, with a market capitalization of approximately $1.42 billion.
• The company reported quarterly revenue of $56.08 million and EPS of $0.62, while increasing its quarterly dividend to $1.2729 per share—an annualized yield of about 17.5%.
• Analyst sentiment remains mostly neutral, with a consensus “Hold” rating, although Wall Street Zen upgraded the stock to “Buy.” Company insiders also recently purchased shares, increasing their holdings.

Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as $28.96 and last traded at $28.96, with a volume of 83796 shares. The stock had previously closed at $28.61.

Analyst Ratings Changes

DMLP has been the topic of several research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Dorchester Minerals in a report on Wednesday, June 24th. Wall Street Zen upgraded Dorchester Minerals from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Dorchester Minerals currently has a consensus rating of "Hold".

Dorchester Minerals Stock Performance

The company has a market cap of $1.42 billion, a price-to-earnings ratio of 16.49 and a beta of 0.54. The stock's fifty day moving average is $26.54 and its two-hundred day moving average is $26.84.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last released its quarterly 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 business had revenue of $56.08 million during the quarter.

Dorchester Minerals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 3rd were issued a dividend of $1.2729 per share. This represents a $5.09 annualized dividend and a yield of 17.5%. This is an increase from Dorchester Minerals's previous quarterly dividend of $0.48. The ex-dividend date was Monday, August 3rd. Dorchester Minerals's dividend payout ratio is currently 289.20%.

Insiders Place Their Bets

In other news, insider Minerals Operating Dorchester acquired 7,500 shares of the business's stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $27.56 per share, with a total value of $206,700.00. Following the acquisition, the insider directly owned 70,017 shares of the company's stock, valued at $1,929,668.52. The trade was a 12.00% increase in their ownership of the stock. The transaction was disclosed in a 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, CFO Leslie A. Moriyama bought 5,197 shares of Dorchester Minerals stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average price of $28.30 per share, with a total value of $147,075.10. Following the purchase, the chief financial officer owned 103,405 shares in the company, valued at approximately $2,926,361.50. This represents a 5.29% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Dorchester Minerals

Institutional investors have recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. bought a new stake in Dorchester Minerals during the second quarter worth $25,000. Geneos Wealth Management Inc. grew its stake in 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. Farther Finance Advisors LLC purchased a new stake in shares of Dorchester Minerals during the 4th quarter valued at $36,000. EverSource Wealth Advisors LLC increased its position in shares of Dorchester Minerals by 4,918.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,061 shares of the energy company's stock valued at $68,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Dorchester Minerals during the 4th quarter valued at $68,000. 19.21% of the stock is owned by institutional investors.

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.

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