Dorchester Minerals (NASDAQ:DMLP) Shares Break Above 200-Day Moving Average - Time to Sell?

Key Points

• Dorchester Minerals shares crossed above their 200-day moving average, trading as high as $28.25 and last at $27.53; the 200-day average is $27.45.
• The partnership reported quarterly earnings of $0.54 per share. Weiss Ratings raised its assessment from “hold (c)” to “hold (c+),” while the overall analyst consensus remains Hold.
• Dorchester cut its quarterly dividend to $0.8823 per share, down from $1.2729, implying an annualized dividend of $3.53 and a 12.8% yield.

Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $27.45 and traded as high as $28.25. Dorchester Minerals shares last traded at $27.53, with a volume of 67,556 shares trading hands.

Analyst Upgrades and Downgrades

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

Dorchester Minerals Stock Up 1.0%

The stock has a market capitalization of $1.35 billion, a PE ratio of 13.30 and a beta of 0.65. The firm has a 50 day moving average price of $29.37 and a 200-day moving average price of $27.45.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The energy company reported $0.54 earnings per share 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 business also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, November 2nd will be issued a dividend of $0.8823 per share. The ex-dividend date is Monday, November 2nd. This is a drop from Dorchester Minerals's previous quarterly dividend of $1.2729. This represents a $3.53 annualized dividend and a yield of 12.8%. Dorchester Minerals's dividend payout ratio is currently 200.57%.

Insider Activity

In other Dorchester Minerals news, CFO Leslie Moriyama acquired 5,197 shares of Dorchester Minerals stock in a transaction on Wednesday, August 19th. The stock was purchased at an average price of $28.30 per share, for a total transaction of $147,075.10. Following the purchase, the chief financial officer directly owned 103,405 shares of the company's stock, valued at $2,926,361.50. This trade represents a 5.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Dorchester Minerals

Hedge funds have recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Dorchester Minerals in the second quarter valued at approximately $25,000. MADDEN SECURITIES Corp acquired a new position in shares of Dorchester Minerals in the 3rd quarter valued at $113,000. State of Wyoming lifted its holdings in Dorchester Minerals by 6.9% in the 3rd quarter. State of Wyoming now owns 5,308 shares of the energy company's stock worth $149,000 after buying an additional 344 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Dorchester Minerals in the third quarter valued at approximately $201,000. Finally, Bank of New York Mellon Corp acquired a new position in Dorchester Minerals during the first quarter worth about $209,000. 19.21% of the stock is currently owned by hedge funds and other institutional investors.

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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