Dorchester Minerals (NASDAQ:DMLP) Hits New 1-Year High - Should You Buy?

Key Points

• Dorchester Minerals reached a new 52-week high, trading as high as $29.26 and closing around $29.21, with a market capitalization of approximately $1.43 billion.
• The company reported quarterly earnings of $0.62 per share on $56.08 million in revenue, while its consensus analyst rating remains “Hold.”
• Dorchester raised its quarterly dividend to $1.2729, equating to an annualized $5.09 payout and a notably high 17.4% dividend yield; its CFO also purchased more than $147,000 of company stock.

Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $29.26 and last traded at $29.2080, with a volume of 25945 shares trading hands. The stock had previously closed at $28.91.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Dorchester Minerals in a research note on Wednesday, June 24th. Wall Street Zen upgraded Dorchester Minerals from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

Dorchester Minerals Trading Up 1.0%

The stock has a market capitalization of $1.43 billion, a P/E ratio of 16.59 and a beta of 0.54. The company's fifty day simple moving average is $26.97 and its 200 day simple moving average is $27.05.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The energy company reported $0.62 earnings per share for the quarter. The company had revenue of $56.08 million for the quarter. Dorchester Minerals had a return on equity of 28.43% and a net margin of 45.45%.

Dorchester Minerals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 3rd were given a $1.2729 dividend. The ex-dividend date was Monday, August 3rd. This represents a $5.09 annualized dividend and a dividend yield of 17.4%. This is a boost from Dorchester Minerals's previous quarterly dividend of $0.48. Dorchester Minerals's payout ratio is presently 289.20%.

Insider Buying and Selling at Dorchester Minerals

In related news, CFO Leslie A. Moriyama bought 5,197 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average price of $28.30 per share, with a total value of $147,075.10. Following the completion of the acquisition, the chief financial officer owned 103,405 shares of the company's stock, valued at $2,926,361.50. The trade was a 5.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in Dorchester Minerals by 5.4% in the 1st quarter. Royal Bank of Canada now owns 74,470 shares of the energy company's stock valued at $2,240,000 after acquiring an additional 3,785 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Dorchester Minerals by 6.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 35,684 shares of the energy company's stock valued at $1,073,000 after buying an additional 2,101 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Dorchester Minerals by 59.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company's stock worth $35,000 after purchasing an additional 440 shares during the period. Cetera Investment Advisers acquired a new position in Dorchester Minerals during the 2nd quarter worth about $293,000. Finally, JPMorgan Chase & Co. boosted its stake in Dorchester Minerals by 17.0% in the second quarter. JPMorgan Chase & Co. now owns 10,815 shares of the energy company's stock valued at $301,000 after acquiring an additional 1,570 shares in the last quarter. 19.21% of the stock is owned by institutional investors and hedge funds.

About Dorchester Minerals

Dorchester Minerals, L.P. NASDAQ: DMLP is a publicly traded master limited partnership that acquires, owns and manages mineral and royalty interests in oil and natural gas properties. The company holds net revenue interests on producing and non-producing wells, entitling it to a share of production proceeds without bearing the costs or operating responsibilities associated with exploration and development activities. Through strategic acquisitions and joint-venture arrangements, Dorchester Minerals builds a diversified portfolio of royalty assets across multiple U.S.

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