Dorchester Minerals, L.P. (NASDAQ:DMLP) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in shares of Dorchester Minerals, L.P. (NASDAQ:DMLP - Free Report) by 37.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,348 shares of the energy company's stock after selling 94,730 shares during the period. Bank of America Corp DE owned 0.33% of Dorchester Minerals worth $5,244,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Round Rock Advisors LLC acquired a new position in Dorchester Minerals during the fourth quarter worth about $3,877,000. Invesco Ltd. acquired a new position in Dorchester Minerals during the fourth quarter worth about $1,524,000. Burford Brothers Inc. acquired a new position in Dorchester Minerals during the fourth quarter worth about $976,000. Jane Street Group LLC acquired a new position in Dorchester Minerals during the fourth quarter worth about $871,000. Finally, Capital Advisory Group Advisory Services LLC acquired a new position in Dorchester Minerals during the fourth quarter worth about $837,000. 19.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Dorchester Minerals Stock Up 0.8%

Shares of DMLP traded up $0.23 during midday trading on Thursday, reaching $27.46. The company had a trading volume of 117,472 shares, compared to its average volume of 97,679. The firm has a 50 day simple moving average of $28.54 and a 200-day simple moving average of $30.95. The stock has a market cap of $1.30 billion, a PE ratio of 12.95 and a beta of 0.62. Dorchester Minerals, L.P. has a 1-year low of $25.84 and a 1-year high of $34.88.

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

Dorchester Minerals Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a dividend of $0.7258 per share. This represents a $2.90 annualized dividend and a yield of 10.57%. The ex-dividend date of this dividend was Monday, May 5th. Dorchester Minerals's payout ratio is currently 142.16%.

Analyst Ratings Changes

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

About Dorchester Minerals

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.