Dorchester Minerals (NASDAQ:DMLP) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• DMLP passed above its 200-day moving average, trading as high as $28.58 and last at $28.33 (200-day MA $24.59; 50-day MA $26.58), with volume around 214,652 shares.
• Dorchester raised its quarterly dividend to $0.7557 (annualized $3.02), implying a 10.7% yield
• Weiss Ratings upgraded the stock from "sell (d+)" to "hold (c-)," and the company reported Q earnings of $0.32 EPS on $41.86M revenue with a 37.5% net margin; market cap is about $1.37 billion (P/E ~24.4).

Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.59 and traded as high as $28.58. Dorchester Minerals shares last traded at $28.33, with a volume of 214,652 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Dorchester Minerals from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of "Hold".

Dorchester Minerals Stock Up 1.8%

The company's fifty day simple moving average is $26.58 and its two-hundred day simple moving average is $24.59. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 24.42 and a beta of 0.61.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.32 earnings per share (EPS) for the quarter. Dorchester Minerals had a net margin of 37.53% and a return on equity of 17.76%. The company had revenue of $41.86 million during the quarter.

Dorchester Minerals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Monday, February 2nd were paid a $0.7557 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This is a positive change from Dorchester Minerals's previous quarterly dividend of $0.69. This represents a $3.02 dividend on an annualized basis and a yield of 10.7%. Dorchester Minerals's payout ratio is presently 260.34%.

Institutional Investors Weigh In On Dorchester Minerals

A number of hedge funds have recently modified their holdings of the business. MidFirst Bank acquired a new position in shares of Dorchester Minerals in the 4th quarter valued at approximately $11,049,000. Virtu Financial LLC bought a new stake in Dorchester Minerals during the 4th quarter worth approximately $318,000. Beacon Pointe Advisors LLC raised its holdings in Dorchester Minerals by 6.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 48,544 shares of the energy company's stock worth $1,085,000 after buying an additional 2,828 shares during the period. Jump Financial LLC lifted its stake in Dorchester Minerals by 127.2% in the fourth quarter. Jump Financial LLC now owns 49,100 shares of the energy company's stock valued at $1,098,000 after buying an additional 27,491 shares in the last quarter. Finally, &PARTNERS lifted its stake in Dorchester Minerals by 25.7% in the fourth quarter. &PARTNERS now owns 171,450 shares of the energy company's stock valued at $3,834,000 after buying an additional 35,080 shares in the last quarter. Institutional investors and hedge funds own 19.21% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.