Dorchester Minerals (NASDAQ:DMLP) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Dorchester Minerals shares rose above their 200-day moving average, reaching $28.11 versus the $26.77 average, with 137,635 shares traded.
• Analyst sentiment remains cautious: the stock carries an average “Hold” rating, despite one firm upgrading it to “Buy.”
• The company reported $0.62 in quarterly EPS on $56.08 million in revenue and raised its quarterly dividend to $1.2729 per share, representing an annualized yield of approximately 18.1%.

Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.77 and traded as high as $28.11. Dorchester Minerals shares last traded at $28.11, with a volume of 137,635 shares changing hands.

Analysts Set New Price Targets

Several brokerages have weighed in on DMLP. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Dorchester Minerals in a research note on Wednesday, June 24th. Wall Street Zen raised Dorchester Minerals from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Dorchester Minerals currently has an average rating of "Hold".

Dorchester Minerals Stock Performance

The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 15.97 and a beta of 0.54. The company's 50 day simple moving average is $26.48 and its 200 day simple moving average is $26.77.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The energy company reported $0.62 earnings per share for the quarter. Dorchester Minerals had a net margin of 45.45% and a return on equity of 28.43%. The company had revenue of $56.08 million during the quarter.

Dorchester Minerals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd were paid a dividend of $1.2729 per share. This represents a $5.09 dividend on an annualized basis and a yield of 18.1%. The ex-dividend date of this dividend was Monday, August 3rd. This is an increase from Dorchester Minerals's previous quarterly dividend of $0.48. Dorchester Minerals's dividend payout ratio is 289.20%.

Insider Transactions at Dorchester Minerals

In other news, insider Minerals Operating Dorchester purchased 7,500 shares of the stock in a transaction dated Monday, June 1st. The shares were bought at an average cost of $27.56 per share, for a total transaction of $206,700.00. Following the transaction, the insider 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.90% of the company's stock.

Institutional Trading of Dorchester Minerals

Several institutional investors have recently modified their holdings of the company. ING Groep NV boosted its holdings in Dorchester Minerals by 38.3% during the fourth quarter. ING Groep NV now owns 131,500 shares of the energy company's stock worth $2,940,000 after buying an additional 36,400 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Dorchester Minerals by 147.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 98,028 shares of the energy company's stock worth $2,192,000 after buying an additional 58,430 shares during the last quarter. Texas Yale Capital Corp. increased its holdings in shares of Dorchester Minerals by 15.8% in the fourth quarter. Texas Yale Capital Corp. now owns 201,500 shares of the energy company's stock valued at $4,506,000 after buying an additional 27,500 shares in the last quarter. ArchPoint Investors increased its holdings in shares of Dorchester Minerals by 4.1% in the fourth quarter. ArchPoint Investors now owns 559,260 shares of the energy company's stock valued at $12,505,000 after buying an additional 22,201 shares in the last quarter. Finally, Resolute Capital LLC acquired a new stake in shares of Dorchester Minerals during the 4th quarter valued at $1,058,000. Institutional investors and hedge funds own 19.21% of the company's stock.

Dorchester Minerals Company Profile

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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