Dorchester Minerals (NASDAQ:DMLP) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Dorchester Minerals shares rose above their 200-day moving average, reaching $30.11 and last trading at $29.87, compared with a 200-day average of $27.70.
• Analyst sentiment remains cautious: Weiss Ratings downgraded the stock to “hold (c),” while the broader consensus is “Hold.”
• The partnership increased its quarterly dividend to $1.2729 per share, equating to an annualized dividend of about $5.09 and a 17.0% yield, though its payout ratio is very high at 289.2%.

Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $27.70 and traded as high as $30.11. Dorchester Minerals shares last traded at $29.87, with a volume of 50,557 shares traded.

Wall Street Analyst Weigh In

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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Dorchester Minerals Stock Performance

The company's 50-day moving average price is $28.91 and its two-hundred day moving average price is $27.70. The stock has a market cap of $1.47 billion, a PE ratio of 16.97 and a beta of 0.64.

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

Dorchester Minerals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd were given a dividend of $1.2729 per share. The ex-dividend date was Monday, August 3rd. This is a positive change from Dorchester Minerals's previous quarterly dividend of $0.4750. This represents a $5.09 dividend on an annualized basis and a yield of 17.0%. Dorchester Minerals's dividend payout ratio (DPR) is 289.20%.

Insiders Place Their Bets

In other news, CFO Leslie Moriyama purchased 5,197 shares of the company's stock in a transaction on 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 directly owned 103,405 shares in the company, valued at approximately $2,926,361.50. This trade represents a 5.29% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Dorchester Minerals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MidFirst Bank purchased a new position in shares of Dorchester Minerals during the 4th quarter valued at about $11,049,000. First Trust Advisors LP lifted its position in Dorchester Minerals by 24.6% in the 1st quarter. First Trust Advisors LP now owns 173,031 shares of the energy company's stock worth $4,689,000 after buying an additional 34,191 shares during the last quarter. Burford Brothers Inc. lifted its position 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 buying an additional 21,865 shares during the last quarter. Glenmede Trust Co. NA lifted its position in Dorchester Minerals by 58.0% in the 1st quarter. Glenmede Trust Co. NA now owns 54,502 shares of the energy company's stock worth $1,477,000 after buying an additional 20,000 shares during the last quarter. Finally, SageGuard Financial Group LLC bought a new stake in Dorchester Minerals in the 1st quarter worth approximately $470,000. 19.21% of the stock is currently owned by hedge funds and other institutional investors.

About Dorchester Minerals

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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