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

Key Points

• Dorchester Minerals shares moved above their 200-day moving average, reaching $28.91 and last trading at $28.65, compared with a 200-day average of $27.01. Despite one analyst upgrade to “buy,” the overall consensus rating remains “hold.”
• The company reported quarterly EPS of $0.62 on revenue of $56.08 million, with a 45.45% net margin and 28.43% return on equity.
• Dorchester Minerals raised its quarterly dividend to $1.2729, implying an annualized dividend of $5.09 and a 17.8% yield; insiders also increased their holdings through recent stock purchases.

Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $27.01 and traded as high as $28.91. Dorchester Minerals shares last traded at $28.65, with a volume of 78,508 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DMLP shares. Weiss Ratings reissued a "hold (c)" rating on shares of Dorchester Minerals in a research note on Wednesday, June 24th. Wall Street Zen raised Dorchester Minerals from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold".

Dorchester Minerals Stock Down 0.2%

The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 16.28 and a beta of 0.54. The stock's fifty day moving average is $26.91 and its 200-day moving average is $27.01.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last issued its earnings results on Thursday, August 6th. The energy company reported $0.62 EPS for the quarter. The firm 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 3rd were given a $1.2729 dividend. The ex-dividend date was Monday, August 3rd. This represents a $5.09 dividend on an annualized basis and a dividend yield of 17.8%. This is an increase from Dorchester Minerals's previous quarterly dividend of $0.48. Dorchester Minerals's dividend payout ratio is currently 289.20%.

Insiders Place Their Bets

In other Dorchester Minerals news, insider Minerals Operating Dorchester acquired 7,500 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price of $27.56 per share, with a total value of $206,700.00. Following the purchase, the insider owned 70,017 shares of the company's stock, valued at $1,929,668.52. This represents a 12.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Leslie A. Moriyama bought 5,197 shares of Dorchester Minerals stock in a transaction on Wednesday, August 19th. The shares were acquired at an average price of $28.30 per share, for a total transaction of $147,075.10. Following the completion of the acquisition, the chief financial officer 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 disclosure for this purchase is available in the SEC filing. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dorchester Minerals

A number of hedge funds have recently modified their holdings of DMLP. Pin Oak Investment Advisors Inc. acquired a new position in shares of Dorchester Minerals in the 2nd quarter valued at approximately $25,000. Geneos Wealth Management Inc. increased its stake in Dorchester Minerals by 59.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company's stock worth $35,000 after purchasing an additional 440 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in Dorchester Minerals during the 4th quarter worth approximately $36,000. Kestra Advisory Services LLC acquired a new stake in Dorchester Minerals during the 4th quarter worth approximately $68,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Dorchester Minerals by 4,918.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,061 shares of the energy company's stock worth $68,000 after buying an additional 3,000 shares during the period. Institutional investors and hedge funds own 19.21% of the company's stock.

About Dorchester Minerals

Dorchester Minerals, L.P. NASDAQ: DMLP is a publicly traded master limited partnership that acquires, owns and manages mineral and royalty interests in oil and natural gas properties. The company holds net revenue interests on producing and non-producing wells, entitling it to a share of production proceeds without bearing the costs or operating responsibilities associated with exploration and development activities. Through strategic acquisitions and joint-venture arrangements, Dorchester Minerals builds a diversified portfolio of royalty assets across multiple U.S.

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