Dorchester Minerals (NASDAQ:DMLP) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Dorchester Minerals shares moved above their 200-day moving average, reaching $29.34 and last trading at $29.01, compared with a 200-day average of $27.62.
• The stock carries an overall “Hold” rating, while Weiss Ratings downgraded it from “hold (c+)” to “hold (c).”
• Dorchester increased its quarterly dividend to $1.2729 per share, equating to an annualized $5.09 payout and a 17.6% yield; however, its payout ratio is high at 289.2%.

Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $27.62 and traded as high as $29.34. Dorchester Minerals shares last traded at $29.01, with a volume of 75,062 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Dorchester Minerals from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold".

Dorchester Minerals Price Performance

The company has a market capitalization of $1.42 billion, a PE ratio of 16.48 and a beta of 0.64. The stock's 50 day simple moving average is $28.47 and its 200-day simple moving average is $27.62.

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

Dorchester Minerals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.2729 per share. This is a boost from Dorchester Minerals's previous quarterly dividend of $0.4750. The ex-dividend date was Monday, August 3rd. This represents a $5.09 dividend on an annualized basis and a yield of 17.6%. Dorchester Minerals's dividend payout ratio (DPR) is currently 289.20%.

Insider Buying and Selling

In other Dorchester Minerals news, CFO Leslie Moriyama purchased 5,197 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was bought at an average price of $28.30 per share, with a total value of $147,075.10. Following the transaction, the chief financial officer directly owned 103,405 shares of the company's stock, valued at approximately $2,926,361.50. This represents a 5.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Dorchester Minerals

Large investors have recently modified their holdings of the stock. Baker Tilly Wealth Management LLC boosted its holdings in Dorchester Minerals by 4.6% in the third quarter. Baker Tilly Wealth Management LLC now owns 14,750 shares of the energy company's stock valued at $414,000 after purchasing an additional 650 shares during the period. Tidal Investments LLC grew its stake in Dorchester Minerals by 34.6% during the 2nd quarter. Tidal Investments LLC now owns 15,855 shares of the energy company's stock worth $400,000 after purchasing an additional 4,079 shares in the last quarter. Burford Brothers Inc. increased its holdings in Dorchester Minerals by 73.1% during the 2nd quarter. Burford Brothers Inc. now owns 51,761 shares of the energy company's stock worth $1,307,000 after purchasing an additional 21,865 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in Dorchester Minerals during the 2nd quarter worth about $25,000. Finally, Trust Co. of Vermont purchased a new stake in Dorchester Minerals during the 2nd quarter worth about $348,000. Hedge funds and other institutional investors own 19.21% of the company's stock.

Dorchester Minerals Company Profile

Dorchester Minerals, L.P. is a publicly traded master limited partnership that owns and manages oil and natural gas mineral interests in the United States. Its assets include producing and non-producing mineral and royalty interests, overriding royalty interests, net profits interests, leasehold interests and other related energy properties.

The partnership generally leases its mineral interests to exploration and production companies rather than directly developing most properties. It earns revenue primarily from royalties and other payments associated with oil and natural gas production, as well as lease bonuses and related interests.

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