Bank of America Corp DE Reduces Position in Dorchester Minerals, L.P. (NASDAQ:DMLP)

Bank of America Corp DE trimmed its position in Dorchester Minerals, L.P. (NASDAQ:DMLP - Free Report) by 37.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,348 shares of the energy company's stock after selling 94,730 shares during the quarter. Bank of America Corp DE owned about 0.33% of Dorchester Minerals worth $5,244,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Graney & King LLC bought a new stake in shares of Dorchester Minerals in the fourth quarter worth about $28,000. Tower Research Capital LLC TRC increased its holdings in shares of Dorchester Minerals by 638.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the energy company's stock worth $37,000 after purchasing an additional 952 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Dorchester Minerals by 62.6% in the third quarter. JPMorgan Chase & Co. now owns 1,444 shares of the energy company's stock worth $44,000 after purchasing an additional 556 shares during the last quarter. Virtus ETF Advisers LLC increased its holdings in shares of Dorchester Minerals by 7.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,729 shares of the energy company's stock worth $191,000 after purchasing an additional 402 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Dorchester Minerals in the fourth quarter worth about $201,000. 19.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Dorchester Minerals news, insider Minerals Operating Dorchester bought 10,000 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was acquired at an average price of $28.76 per share, for a total transaction of $287,600.00. Following the completion of the transaction, the insider now directly owns 58,017 shares of the company's stock, valued at approximately $1,668,568.92. This represents a 20.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bradley J. Ehrman bought 3,356 shares of the company's stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $29.80 per share, with a total value of $100,008.80. Following the transaction, the chief executive officer now directly owns 117,710 shares of the company's stock, valued at approximately $3,507,758. This trade represents a 2.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Dorchester Minerals from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th.

Dorchester Minerals Stock Down 1.8%

NASDAQ DMLP traded down $0.50 during trading hours on Friday, hitting $26.96. 651,846 shares of the company were exchanged, compared to its average volume of 100,539. The stock has a 50-day moving average price of $28.47 and a 200 day moving average price of $30.88. Dorchester Minerals, L.P. has a 52 week low of $25.84 and a 52 week high of $34.88. The stock has a market cap of $1.28 billion, a PE ratio of 12.72 and a beta of 0.62.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The energy company reported $0.36 earnings per share for the quarter. Dorchester Minerals had a return on equity of 36.86% and a net margin of 56.77%.

Dorchester Minerals Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a dividend of $0.7258 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.90 annualized dividend and a yield of 10.77%. Dorchester Minerals's payout ratio is currently 142.16%.

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.