13,835 Shares in Dorchester Minerals, L.P. $DMLP Bought by Wealthedge Investment Advisors LLC

Key Points

• Wealthedge Investment Advisors LLC recently acquired a new stake in Dorchester Minerals, L.P., purchasing 13,835 shares valued at approximately $416,000.
• The energy company declared a quarterly dividend of $0.6202 per share, translating to an annualized dividend of $2.48 and a yield of 9.9%, though its dividend payout ratio currently stands at 144.19%.
• Wall Street analyst ratings for Dorchester Minerals improved, with reports moving from a "hold" to a "buy" recommendation as of May 13th.

Wealthedge Investment Advisors LLC bought a new position in shares of Dorchester Minerals, L.P. (NASDAQ:DMLP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,835 shares of the energy company's stock, valued at approximately $416,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of DMLP. HWG Holdings LP bought a new position in shares of Dorchester Minerals in the first quarter worth $29,000. Tower Research Capital LLC TRC increased 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 worth $37,000 after purchasing an additional 952 shares during the period. Virtus ETF Advisers LLC increased 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 worth $191,000 after purchasing an additional 402 shares during the period. Cetera Investment Advisers bought a new position in shares of Dorchester Minerals in the fourth quarter worth $200,000. Finally, State of Tennessee Department of Treasury bought a new position in shares of Dorchester Minerals in the fourth quarter worth $201,000. Institutional investors and hedge funds own 19.21% of the company's stock.

Dorchester Minerals Stock Performance

Shares of NASDAQ:DMLP traded down $0.33 during midday trading on Friday, hitting $24.72. 163,314 shares of the stock were exchanged, compared to its average volume of 137,813. The business's 50-day moving average price is $27.24 and its 200 day moving average price is $28.61. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 14.37 and a beta of 0.65. Dorchester Minerals, L.P. has a 12 month low of $24.12 and a 12 month high of $34.88.

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

Dorchester Minerals Cuts Dividend

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

Analysts Set New Price Targets

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 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.