Dorchester Minerals (NASDAQ:DMLP) Reaches New 52-Week High - Here's What Happened

Key Points

• Dorchester Minerals shares reached a new 52-week high, trading as high as $29.60 and last changing hands at $29.31. The stock has gained modestly, with its 50-day and 200-day moving averages near $27.
• The company reported quarterly EPS of $0.62 on $56.08 million in revenue and raised its quarterly dividend to $1.2729, implying an annualized yield of approximately 17.4%.
• Analysts maintain a “Hold” consensus, while CFO Leslie Moriyama purchased 5,197 shares worth about $147,000. Institutional investors own roughly 19.2% of the company.

Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $29.60 and last traded at $29.3050, with a volume of 100 shares traded. The stock had previously closed at $29.21.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Dorchester Minerals in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Dorchester Minerals currently has an average rating of "Hold".

Dorchester Minerals Stock Up 0.3%

The business has a fifty day moving average of $27.33 and a 200 day moving average of $27.18. The firm has a market cap of $1.44 billion, a P/E ratio of 16.65 and a beta of 0.55.

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

Dorchester Minerals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd were issued a $1.2729 dividend. This represents a $5.09 annualized dividend and a yield of 17.4%. This is a boost from Dorchester Minerals's previous quarterly dividend of $0.48. The ex-dividend date was Monday, August 3rd. Dorchester Minerals's dividend payout ratio (DPR) is 289.20%.

Insider Activity

In other news, CFO Leslie Moriyama acquired 5,197 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average price of $28.30 per share, for a total transaction of $147,075.10. Following the transaction, the chief financial officer directly owned 103,405 shares in the company, valued at approximately $2,926,361.50. This represents a 5.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dorchester Minerals

Several large investors have recently modified their holdings of the business. MidFirst Bank acquired a new stake in Dorchester Minerals during the 4th quarter worth approximately $11,049,000. Jane Street Group LLC bought a new stake in shares of Dorchester Minerals during the second quarter worth $1,855,000. UBS Group AG raised its holdings in shares of Dorchester Minerals by 121.7% during the third quarter. UBS Group AG now owns 86,964 shares of the energy company's stock worth $2,251,000 after acquiring an additional 47,744 shares during the period. Resolute Capital LLC bought a new stake in Dorchester Minerals in the 4th quarter valued at $1,058,000. Finally, ING Groep NV lifted its position in Dorchester Minerals by 38.3% in the 4th quarter. ING Groep NV now owns 131,500 shares of the energy company's stock valued at $2,940,000 after acquiring an additional 36,400 shares in the last quarter. 19.21% of the stock is currently owned by institutional investors.

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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