Dorchester Minerals (NASDAQ:DMLP) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Dorchester Minerals shares rose above their 200-day moving average, reaching $28.77 and last trading at $28.55 versus the $27.55 average. The stock has a “Hold” consensus rating, despite Weiss Ratings modestly upgrading its assessment from “hold (c)” to “hold (c+).”
• The partnership reported $0.62 in quarterly earnings per share and $56.08 million in revenue, with a 45.45% net margin and 28.43% return on equity.
• Dorchester increased its quarterly dividend to $1.2729, equivalent to an annualized $5.09 payout and an unusually high 17.8% yield. The company’s CFO also purchased 5,197 shares, while institutional investors own 19.21% of the stock.

Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $27.55 and traded as high as $28.77. Dorchester Minerals shares last traded at $28.55, with a volume of 100,884 shares.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Dorchester Minerals from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, September 16th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold".

Dorchester Minerals Stock Up 0.8%

The stock has a market cap of $1.40 billion, a PE ratio of 16.22 and a beta of 0.55. The company has a fifty day moving average price of $28.30 and a 200 day moving average price of $27.55.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last released its earnings results on Thursday, August 6th. The energy company reported $0.62 earnings per share 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 business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd were paid a $1.2729 dividend. This is an increase from Dorchester Minerals's previous quarterly dividend of $0.4750. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.09 dividend on an annualized basis and a yield of 17.8%. Dorchester Minerals's payout ratio is presently 289.20%.

Insiders Place Their Bets

In related news, CFO Leslie Moriyama acquired 5,197 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average price of $28.30 per share, with a total value of $147,075.10. Following the completion of the purchase, the chief financial officer owned 103,405 shares in the company, valued at $2,926,361.50. This trade represents a 5.29% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DMLP. Tidal Investments LLC raised its holdings in Dorchester Minerals by 34.6% during the 2nd quarter. Tidal Investments LLC now owns 15,855 shares of the energy company's stock valued at $400,000 after buying an additional 4,079 shares during the last quarter. Burford Brothers Inc. grew its holdings in Dorchester Minerals by 73.1% in the 2nd quarter. Burford Brothers Inc. now owns 51,761 shares of the energy company's stock worth $1,307,000 after acquiring an additional 21,865 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in Dorchester Minerals in the 2nd quarter worth $25,000. Trust Co. of Vermont purchased a new position in shares of Dorchester Minerals in the second quarter valued at about $348,000. Finally, Redhawk Wealth Advisors Inc. increased its position in shares of Dorchester Minerals by 83.6% in the second quarter. Redhawk Wealth Advisors Inc. now owns 17,743 shares of the energy company's stock valued at $448,000 after acquiring an additional 8,079 shares during the period. 19.21% of the stock is owned by hedge funds and other institutional investors.

Dorchester Minerals Company Profile

Dorchester Minerals, L.P. NASDAQ: DMLP is a publicly traded limited partnership that owns and manages mineral, royalty, overriding royalty and net profits interests in oil and natural gas properties in the United States. Rather than primarily drilling and operating wells, the partnership typically leases its mineral interests to exploration and production companies and receives royalty and other payments from the resulting production.

The partnership's assets are located across several major U.S.

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