Garner Asset Management Corp Acquires Shares of 21,803 Dorchester Minerals, L.P. (NASDAQ:DMLP)

Garner Asset Management Corp acquired a new position in shares of Dorchester Minerals, L.P. (NASDAQ:DMLP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,803 shares of the energy company's stock, valued at approximately $656,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of Dorchester Minerals during the 4th quarter valued at about $783,000. HighTower Advisors LLC raised its holdings in shares of Dorchester Minerals by 137.7% during the 4th quarter. HighTower Advisors LLC now owns 27,375 shares of the energy company's stock valued at $912,000 after buying an additional 15,860 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Dorchester Minerals by 9.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,902 shares of the energy company's stock valued at $430,000 after buying an additional 1,163 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of Dorchester Minerals during the 4th quarter valued at about $219,000. Finally, LPL Financial LLC raised its holdings in shares of Dorchester Minerals by 9.3% during the 4th quarter. LPL Financial LLC now owns 57,173 shares of the energy company's stock valued at $1,906,000 after buying an additional 4,877 shares in the last quarter. Hedge funds and other institutional investors own 19.21% of the company's stock.

Insider Transactions at Dorchester Minerals

In other Dorchester Minerals news, insider Minerals Operating Dorchester purchased 10,000 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was purchased at an average price of $28.76 per share, for a total transaction of $287,600.00. Following the completion of the purchase, the insider directly owned 58,017 shares of the company's stock, valued at $1,668,568.92. This trade represents a 20.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.90% of the company's stock.

Dorchester Minerals Trading Down 0.3%

Shares of DMLP stock traded down $0.09 during trading hours on Friday, reaching $27.39. The company's stock had a trading volume of 20,928 shares, compared to its average volume of 121,201. The stock has a market capitalization of $1.30 billion, a P/E ratio of 13.43 and a beta of 0.59. Dorchester Minerals, L.P. has a one year low of $25.84 and a one year high of $34.88. The firm's fifty day simple moving average is $27.65 and its 200 day simple moving average is $29.44.

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 disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 4th will be paid a dividend of $0.6202 per share. This represents a $2.48 dividend on an annualized basis and a yield of 9.06%. Dorchester Minerals's payout ratio is 142.16%.

Analyst Upgrades and Downgrades

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

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.