Lee Financial Co Lowers Position 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 reduced its position in shares of Dorchester Minerals, L.P. (NASDAQ:DMLP - Free Report) by 30.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,605 shares of the energy company's stock after selling 11,000 shares during the period. Lee Financial Co owned approximately 0.05% of Dorchester Minerals worth $740,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Dorchester Minerals during the 1st quarter worth approximately $445,000. Raymond James Financial Inc. purchased a new position in Dorchester Minerals in the fourth quarter worth $783,000. Jane Street Group LLC acquired a new stake in Dorchester Minerals in the fourth quarter valued at $871,000. Invesco Ltd. purchased a new stake in shares of Dorchester Minerals during the 4th quarter worth $1,524,000. Finally, Burford Brothers Inc. grew its stake in shares of Dorchester Minerals by 43.7% during the 1st quarter. Burford Brothers Inc. now owns 42,072 shares of the energy company's stock worth $1,266,000 after purchasing an additional 12,800 shares during the period. Institutional investors and hedge funds own 19.21% of the company's stock.

Dorchester Minerals Price Performance

NASDAQ DMLP opened at $24.72 on Monday. The business has a 50 day moving average price of $27.24 and a 200 day moving average price of $28.61. The company has a market capitalization of $1.17 billion, a P/E ratio of 14.37 and a beta of 0.65. Dorchester Minerals, L.P. has a 1-year low of $24.12 and a 1-year high of $34.88.

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

Dorchester Minerals Cuts Dividend

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

Analysts Set New Price Targets

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 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.

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