Dorchester Minerals, L.P. (NASDAQ:DMLP) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP has reduced its stake in Dorchester Minerals, L.P. by 19.3%, now holding approximately 0.91% of the company valued at $13 million.
• The company announced a quarterly dividend of $0.6202 per share, equating to an annual yield of 9.01%, although the payout ratio is high at 142.16%.
• Dorchester Minerals' stock performance shows a current price of $27.52, with a 52-week range between $25.84 and $34.88, and has an earnings report of $0.36 EPS.

Royce & Associates LP lowered its position in Dorchester Minerals, L.P. (NASDAQ:DMLP - Free Report) by 19.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 432,609 shares of the energy company's stock after selling 103,521 shares during the period. Royce & Associates LP owned 0.91% of Dorchester Minerals worth $13,013,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Round Rock Advisors LLC raised its holdings in Dorchester Minerals by 140.0% during the first quarter. Round Rock Advisors LLC now owns 279,153 shares of the energy company's stock worth $8,397,000 after buying an additional 162,828 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Dorchester Minerals during the fourth quarter worth about $3,829,000. GraniteShares Advisors LLC lifted its holdings in shares of Dorchester Minerals by 6.5% in the first quarter. GraniteShares Advisors LLC now owns 78,002 shares of the energy company's stock worth $2,346,000 after buying an additional 4,730 shares in the last quarter. Texas Yale Capital Corp. raised its stake in Dorchester Minerals by 2.8% in the fourth quarter. Texas Yale Capital Corp. now owns 77,300 shares of the energy company's stock valued at $2,576,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Canton Hathaway LLC raised its stake in shares of Dorchester Minerals by 249.9% during the first quarter. Canton Hathaway LLC now owns 64,640 shares of the energy company's stock worth $1,944,000 after acquiring an additional 46,165 shares in the last quarter. Institutional investors and hedge funds own 19.21% of the company's stock.

Insiders Place Their Bets

In related news, insider Minerals Operating Dorchester acquired 10,000 shares of the stock in a transaction on Wednesday, April 30th. The shares were bought at an average price of $28.76 per share, with a total value of $287,600.00. Following the completion of the purchase, the insider owned 58,017 shares of the company's stock, valued at approximately $1,668,568.92. This represents a 20.83% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

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

Dorchester Minerals Stock Performance

Shares of NASDAQ DMLP traded down $0.29 during midday trading on Tuesday, hitting $27.62. 35,873 shares of the company's stock traded hands, compared to its average volume of 120,509. The firm has a fifty day moving average of $27.61 and a 200 day moving average of $29.25. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 13.53 and a beta of 0.59. 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 issued 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 return on equity of 28.67% and a net margin of 52.49%.

Dorchester Minerals Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 4th will be issued a dividend of $0.6202 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 8.98%. The ex-dividend date of this dividend is Monday, August 4th. Dorchester Minerals's dividend payout ratio (DPR) is 142.16%.

Dorchester Minerals 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.