Dorchester Minerals (NASDAQ:DMLP) Hits New 52-Week High - What's Next?

Key Points

• Dorchester Minerals reached a new 52-week high of $31.07, with shares last trading near $30.82. The stock has risen above its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious, with the company holding a consensus “Hold” rating after Weiss Ratings modestly upgraded its assessment from “hold (c)” to “hold (c+).”
• Dorchester Minerals cut its quarterly dividend to $0.8823 from $1.2729, implying an annualized yield of about 11.5%; CFO Leslie Moriyama also increased her stake by purchasing 5,197 shares.

Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report)'s share price hit a new 52-week high during trading on Thursday. The company traded as high as $31.07 and last traded at $30.8150, with a volume of 5,912 shares changing hands. The stock had previously closed at $30.69.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Dorchester Minerals from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, Dorchester Minerals currently has a consensus rating of "Hold".

Dorchester Minerals Stock Down 0.3%

The business's fifty day moving average price is $29.41 and its 200 day moving average price is $27.27. The firm has a market capitalization of $1.50 billion, a PE ratio of 17.43 and a beta of 0.64.

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 (EPS) for the quarter. The firm 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 Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd will be paid a $0.8823 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $3.53 annualized dividend and a yield of 11.5%. This is a decrease from Dorchester Minerals's previous quarterly dividend of $1.2729. Dorchester Minerals's dividend payout ratio is presently 200.00%.

Insider Activity

In other news, CFO Leslie Moriyama purchased 5,197 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was purchased at an average cost of $28.30 per share, with a total value of $147,075.10. Following the completion of the acquisition, the chief financial officer directly owned 103,405 shares of the company's stock, valued at approximately $2,926,361.50. This trade represents a 5.29% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dorchester Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of DMLP. MGO One Seven LLC grew its holdings in shares of Dorchester Minerals by 3.3% in the 3rd quarter. MGO One Seven LLC now owns 10,599 shares of the energy company's stock worth $297,000 after acquiring an additional 334 shares during the period. State of Wyoming increased its position in Dorchester Minerals by 6.9% during the 3rd quarter. State of Wyoming now owns 5,308 shares of the energy company's stock worth $149,000 after purchasing an additional 344 shares in the last quarter. Soltis Investment Advisors LLC acquired a new position in shares of Dorchester Minerals in the third quarter valued at approximately $439,000. MADDEN SECURITIES Corp acquired a new position in Dorchester Minerals in the 3rd quarter valued at $113,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Dorchester Minerals during the third quarter worth $201,000. Institutional investors and hedge funds own 19.21% of the company's stock.

About Dorchester Minerals

Dorchester Minerals, L.P. NASDAQ: DMLP is a publicly traded energy partnership that owns and manages mineral, royalty, overriding royalty, and net profits interests in oil and natural gas properties. Rather than operating wells directly, the company generally receives payments from exploration and production companies that develop and produce hydrocarbons from its properties.

The partnership's assets are located across several major U.S. oil and gas regions, including the Permian Basin, the Haynesville and other Gulf Coast areas, the Anadarko Basin, and the Rocky Mountain region.

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