Dorchester Minerals (NASDAQ:DMLP) Sets New 52-Week High After Dividend Announcement

Key Points

• Dorchester Minerals shares reached a new 52-week high of $30.80 after the partnership announced a quarterly dividend of $0.8823, payable November 12. The dividend implies an annualized payout of $3.53 and an 11.5% yield, down from the prior $1.2729 quarterly dividend.
• The company’s dividend payout ratio stands at a high 289.20%, while Weiss Ratings downgraded the stock to “hold (c)” and the broader analyst consensus remains “Hold.”
• Recent filings showed CFO Leslie Moriyama purchasing 5,197 shares, and several institutional investors increased their positions; insiders own 5.90% of the stock and institutions own 19.21%.

Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday after the company announced a dividend. The stock traded as high as $30.80 and last traded at $30.6160, with a volume of 43,629 shares trading hands. The stock had previously closed at $29.98.The newly announced dividend which will be paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd will be issued a $0.8823 dividend. This represents a $3.53 annualized dividend and a dividend yield of 11.5%. This is a decrease from Dorchester Minerals's previous quarterly dividend of $1.2729. The ex-dividend date is Monday, November 2nd. Dorchester Minerals's dividend payout ratio is currently 289.20%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Dorchester Minerals from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, Dorchester Minerals presently has a consensus rating of "Hold".

Dorchester Minerals Stock Up 2.3%

The company has a market cap of $1.51 billion, a PE ratio of 17.42 and a beta of 0.64. The firm has a 50 day simple moving average of $29.23 and a 200-day simple moving average of $27.79.

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

Insider Activity at Dorchester Minerals

In other Dorchester Minerals news, CFO Leslie Moriyama bought 5,197 shares of Dorchester Minerals stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average cost of $28.30 per share, with a total value of $147,075.10. Following the purchase, the chief financial officer directly owned 103,405 shares in the company, valued at $2,926,361.50. This represents a 5.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dorchester Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in DMLP. Burford Brothers Inc. lifted its holdings in Dorchester Minerals by 73.1% during the second quarter. Burford Brothers Inc. now owns 51,761 shares of the energy company's stock valued at $1,307,000 after purchasing an additional 21,865 shares in the last quarter. Global Strategic Management Inc. grew its position in shares of Dorchester Minerals by 74.7% in the third quarter. Global Strategic Management Inc. now owns 47,250 shares of the energy company's stock valued at $1,324,000 after purchasing an additional 20,200 shares during the period. First Trust Advisors LP increased its stake in shares of Dorchester Minerals by 24.6% during the first quarter. First Trust Advisors LP now owns 173,031 shares of the energy company's stock worth $4,689,000 after purchasing an additional 34,191 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Dorchester Minerals by 58.0% during the first quarter. Glenmede Trust Co. NA now owns 54,502 shares of the energy company's stock worth $1,477,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake in shares of Dorchester Minerals by 10.0% during the first quarter. Kestra Private Wealth Services LLC now owns 18,160 shares of the energy company's stock worth $492,000 after purchasing an additional 1,652 shares in the last quarter. Hedge funds and other institutional investors own 19.21% of the company's stock.

Dorchester Minerals Company Profile

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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