Dorchester Minerals, L.P. (NASDAQ:DMLP) Shares Sold by Moors & Cabot Inc.

Key Points

• Moors & Cabot Inc. has reduced its stake in Dorchester Minerals, L.P. by 17.4%, selling 17,900 shares during the first quarter, now holding approximately 84,850 shares worth about $2.55 million.
• Dorchester Minerals announced a quarterly dividend of $0.6202 per share, with a 9.1% dividend yield, despite a high dividend payout ratio of 142.16%.
• Analysts at Wall Street Zen upgraded Dorchester Minerals from a "hold" to a "buy" rating on May 13th, indicating positive sentiment towards the stock's performance.

Moors & Cabot Inc. reduced its position in shares of Dorchester Minerals, L.P. (NASDAQ:DMLP - Free Report) by 17.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 84,850 shares of the energy company's stock after selling 17,900 shares during the quarter. Moors & Cabot Inc. owned 0.18% of Dorchester Minerals worth $2,552,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in DMLP. Virtus ETF Advisers LLC lifted its stake in shares of Dorchester Minerals by 7.5% during the 4th 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. Flagship Harbor Advisors LLC increased its holdings in shares of Dorchester Minerals by 9.1% in the first quarter. Flagship Harbor Advisors LLC now owns 9,583 shares of the energy company's stock valued at $288,000 after purchasing an additional 796 shares during the period. 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 valued at $37,000 after purchasing an additional 952 shares during the period. HWG Holdings LP acquired a new position in shares of Dorchester Minerals in the first quarter valued at about $29,000. Finally, Commonwealth Equity Services LLC grew its holdings in Dorchester Minerals by 9.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,902 shares of the energy company's stock worth $430,000 after acquiring an additional 1,163 shares during the period. 19.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Dorchester Minerals Trading Down 0.7%

Shares of Dorchester Minerals stock traded down $0.20 on Tuesday, hitting $26.47. The stock had a trading volume of 119,176 shares, compared to its average volume of 120,997. The company's 50 day moving average price is $27.57 and its 200 day moving average price is $29.03. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 12.98 and a beta of 0.65. Dorchester Minerals, L.P. has a 52-week low of $25.84 and a 52-week high of $34.88.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The energy company reported $0.36 earnings per share for the quarter. Dorchester Minerals had a return on equity of 28.67% and a net margin of 52.49%.

Dorchester Minerals Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 4th will be paid a $0.6202 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date is Monday, August 4th. Dorchester Minerals's payout ratio is presently 121.57%.

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.