Dorchester Minerals (NASDAQ:DMLP) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• Dorchester Minerals shares moved above their 200-day moving average, reaching $27.63 and last trading near $27.61, compared with a 200-day average of $26.53.
• Analyst sentiment remains cautious, with the company holding a consensus “Hold” rating despite one recent upgrade to “Buy.” The company reported quarterly EPS of $0.59 on revenue of $58.88 million.
• Dorchester Minerals raised its quarterly dividend to $1.2729, implying an annualized dividend of $5.09 and an exceptionally high 18.4% yield. Insiders also purchased 19,000 shares over the past 90 days.

Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.53 and traded as high as $27.63. Dorchester Minerals shares last traded at $27.61, with a volume of 326,926 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Dorchester Minerals from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Dorchester Minerals in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Dorchester Minerals Price Performance

The business has a 50 day moving average price of $26.68 and a 200 day moving average price of $26.53. The firm has a market capitalization of $1.33 billion, a P/E ratio of 19.86 and a beta of 0.55.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.59 EPS for the quarter. Dorchester Minerals had a return on equity of 22.11% and a net margin of 40.85%.The business had revenue of $58.88 million for the quarter.

Dorchester Minerals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 3rd will be given a $1.2729 dividend. This is an increase from Dorchester Minerals's previous quarterly dividend of $0.48. This represents a $5.09 dividend on an annualized basis and a dividend yield of 18.4%. The ex-dividend date of this dividend is Monday, August 3rd. Dorchester Minerals's dividend payout ratio (DPR) is presently 366.19%.

Insider Transactions at Dorchester Minerals

In other news, CEO Bradley J. Ehrman acquired 4,000 shares of Dorchester Minerals stock in a transaction dated Tuesday, May 12th. The stock was bought at an average price of $26.78 per share, for a total transaction of $107,120.00. Following the completion of the acquisition, the chief executive officer directly owned 142,723 shares in the company, valued at approximately $3,822,121.94. The trade was a 2.88% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Minerals Operating Dorchester acquired 7,500 shares of the business's stock in a transaction on Monday, June 1st. The stock was acquired 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 in the company, valued at approximately $1,929,668.52. This trade represents a 12.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders bought 19,000 shares of company stock worth $526,070. 5.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Dorchester Minerals

Hedge funds have recently bought and sold shares of the company. MidFirst Bank bought a new stake in shares of Dorchester Minerals in the 4th quarter worth $11,049,000. Jane Street Group LLC bought a new position in shares of Dorchester Minerals in the 2nd quarter worth $1,855,000. Geneos Wealth Management Inc. lifted its holdings in shares of Dorchester Minerals by 147.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 98,028 shares of the energy company's stock worth $2,192,000 after acquiring an additional 58,430 shares during the last quarter. UBS Group AG boosted its stake in shares of Dorchester Minerals by 121.7% in the 3rd quarter. UBS Group AG now owns 86,964 shares of the energy company's stock valued at $2,251,000 after purchasing an additional 47,744 shares in the last quarter. Finally, Resolute Capital LLC bought a new position in shares of Dorchester Minerals during the 4th quarter valued at $1,058,000. Institutional investors 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.

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