Wells Fargo & Company MN Sells 59,733 Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP)

Wells Fargo & Company MN decreased its stake in shares of Dorchester Minerals, L.P. (NASDAQ:DMLP - Free Report) by 58.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 42,823 shares of the energy company's stock after selling 59,733 shares during the quarter. Wells Fargo & Company MN owned 0.09% of Dorchester Minerals worth $1,427,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Dorchester Minerals by 29.9% during the fourth quarter. Geode Capital Management LLC now owns 32,261 shares of the energy company's stock worth $1,075,000 after buying an additional 7,427 shares in the last quarter. Graney & King LLC bought a new stake in Dorchester Minerals in the fourth quarter valued at about $28,000. LPL Financial LLC raised its position in Dorchester Minerals by 9.3% in the fourth quarter. LPL Financial LLC now owns 57,173 shares of the energy company's stock worth $1,906,000 after purchasing an additional 4,877 shares in the last quarter. HUB Investment Partners LLC bought a new position in Dorchester Minerals during the fourth quarter worth about $212,000. Finally, Horizon Kinetics Asset Management LLC boosted its holdings in Dorchester Minerals by 1.3% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 908,646 shares of the energy company's stock valued at $30,285,000 after purchasing an additional 11,753 shares in the last quarter. Institutional investors and hedge funds own 19.21% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Dorchester Minerals from a "buy" rating to a "hold" rating in a research report on Monday, February 24th.

Insider Activity at Dorchester Minerals

In other news, CEO Bradley J. Ehrman bought 3,356 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $29.80 per share, with a total value of $100,008.80. Following the purchase, the chief executive officer now owns 117,710 shares of the company's stock, valued at approximately $3,507,758. This represents a 2.93 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Minerals Operating Dorchester purchased 10,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were purchased at an average cost of $28.76 per share, for a total transaction of $287,600.00. Following the purchase, the insider now directly owns 58,017 shares of the company's stock, valued at $1,668,568.92. This trade represents a 20.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 20,191 shares of company stock valued at $598,864 over the last ninety days. 5.90% of the stock is owned by insiders.

Dorchester Minerals Stock Performance

Shares of NASDAQ:DMLP traded up $0.71 on Friday, hitting $29.48. The stock had a trading volume of 57,157 shares, compared to its average volume of 95,454. Dorchester Minerals, L.P. has a twelve month low of $25.84 and a twelve month high of $34.88. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.94 and a beta of 0.79. The firm's 50 day moving average price is $29.33 and its 200-day moving average price is $31.55.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The energy company reported $0.24 earnings per share for the quarter. The company had revenue of $39.71 million during the quarter. Dorchester Minerals had a net margin of 56.77% and a return on equity of 36.86%.

Dorchester Minerals Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a dividend of $0.7258 per share. This represents a $2.90 annualized dividend and a dividend yield of 9.85%. The ex-dividend date is Monday, May 5th. Dorchester Minerals's payout ratio is presently 136.79%.

Dorchester Minerals Company Profile

Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of royalty properties in the United States. Its royalty properties include producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests in 593 counties and parishes in 28 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.