Lee Financial Co Decreases Holdings in Dorchester Minerals, L.P. $DMLP

Key Points

• Lee Financial Co has reduced its position in Dorchester Minerals, L.P. by 30.9%, now holding approximately 0.05% of the company with a value of $740,000.
• Dorchester Minerals recently announced a quarterly dividend of $0.6202 per share, with an annualized yield of 10.0% and a dividend payout ratio of 144.19%.
• Analysts have upgraded Dorchester Minerals from a "hold" to a "buy" rating, indicating increased investor confidence in the stock.

Lee Financial Co cut its holdings in shares of Dorchester Minerals, L.P. (NASDAQ:DMLP - Free Report) by 30.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,605 shares of the energy company's stock after selling 11,000 shares during the quarter. Lee Financial Co owned approximately 0.05% of Dorchester Minerals worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. HWG Holdings LP bought a new position in shares of Dorchester Minerals in the first quarter valued at approximately $29,000. Tower Research Capital LLC TRC boosted its position 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 acquiring an additional 952 shares during the period. Virtus ETF Advisers LLC boosted its position 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 valued at $191,000 after acquiring an additional 402 shares during the period. Cetera Investment Advisers bought a new position in shares of Dorchester Minerals in the fourth quarter valued at approximately $200,000. Finally, State of Tennessee Department of Treasury bought a new position in shares of Dorchester Minerals in the fourth quarter valued at approximately $201,000. 19.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Dorchester Minerals Stock Performance

DMLP traded up $0.64 on Friday, reaching $24.84. The company had a trading volume of 75,160 shares, compared to its average volume of 146,115. The business has a 50 day simple moving average of $26.87 and a 200 day simple moving average of $28.41. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 14.44 and a beta of 0.65. Dorchester Minerals, L.P. has a 52-week low of $24.01 and a 52-week high of $34.88.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy company reported $0.25 earnings per share for the quarter. The business had revenue of $32.40 million for the quarter. Dorchester Minerals had a net margin of 47.35% and a return on equity of 22.49%.

Dorchester Minerals Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were paid a $0.6202 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 10.0%. The ex-dividend date of this dividend was Monday, August 4th. Dorchester Minerals's dividend payout ratio (DPR) is currently 144.19%.

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.