First Trust Advisors LP Lowers Stock Position in Dorchester Minerals, L.P. (NASDAQ:DMLP)

First Trust Advisors LP reduced its stake in Dorchester Minerals, L.P. (NASDAQ:DMLP - Free Report) by 6.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 162,516 shares of the energy company's stock after selling 10,884 shares during the quarter. First Trust Advisors LP owned 0.34% of Dorchester Minerals worth $5,417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Graney & King LLC bought a new stake in Dorchester Minerals in the fourth quarter worth about $28,000. JPMorgan Chase & Co. raised its holdings in shares of Dorchester Minerals by 62.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,444 shares of the energy company's stock worth $44,000 after purchasing an additional 556 shares during the period. HUB Investment Partners LLC purchased a new position in Dorchester Minerals in the fourth quarter valued at approximately $212,000. Corient Private Wealth LLC bought a new position in Dorchester Minerals during the fourth quarter valued at $219,000. Finally, Apollon Wealth Management LLC purchased a new stake in Dorchester Minerals in the fourth quarter worth $228,000. 19.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Minerals Operating Dorchester purchased 10,000 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was purchased at an average cost of $28.76 per share, with a total value of $287,600.00. Following the acquisition, the insider now directly owns 58,017 shares in the company, valued at approximately $1,668,568.92. This trade represents a 20.83 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bradley J. Ehrman purchased 3,356 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $29.80 per share, for a total transaction of $100,008.80. Following the acquisition, the chief executive officer now owns 117,710 shares of the company's stock, valued at approximately $3,507,758. This trade represents a 2.93 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 13,691 shares of company stock valued at $398,014. Corporate insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Dorchester Minerals from a "buy" rating to a "hold" rating in a research note on Monday, February 24th.

Dorchester Minerals Price Performance

NASDAQ:DMLP traded down $0.07 on Tuesday, reaching $28.32. 10,927 shares of the company's stock were exchanged, compared to its average volume of 95,398. The stock has a fifty day simple moving average of $29.26 and a 200-day simple moving average of $31.50. Dorchester Minerals, L.P. has a 52 week low of $25.84 and a 52 week high of $34.88. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 13.36 and a beta of 0.79.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The energy company reported $0.24 EPS for the quarter. Dorchester Minerals had a net margin of 56.77% and a return on equity of 36.86%. The company had revenue of $39.71 million during the quarter.

Dorchester Minerals Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be issued a dividend of $0.7258 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.90 dividend on an annualized basis and a yield of 10.25%. Dorchester Minerals's dividend payout ratio (DPR) is 136.79%.

Dorchester Minerals Company 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.