Dorchester Minerals (NASDAQ:DMLP) Hits New 1-Year Low – Here’s What Happened

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s share price hit a new 52-week low on Friday . The company traded as low as $28.25 and last traded at $28.30, with a volume of 86004 shares changing hands. The stock had previously closed at $29.65.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Dorchester Minerals from a “buy” rating to a “hold” rating in a research note on Monday, February 24th.

Dorchester Minerals Stock Down 5.1 %

The stock has a market cap of $1.33 billion, a PE ratio of 13.27 and a beta of 1.08. The company’s fifty day moving average is $30.68 and its 200 day moving average is $31.92.

Dorchester Minerals (NASDAQ:DMLP) last issued its earnings results on Thursday, February 20th. The energy company reported $0.24 EPS for the quarter. Dorchester Minerals had a net margin of 56.77% and a return on equity of 36.86%. The business had revenue of $39.71 million for the quarter.

Dorchester Minerals Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 3rd were given a $0.7394 dividend. This represents a $2.96 annualized dividend and a dividend yield of 10.51%. The ex-dividend date of this dividend was Monday, February 3rd. Dorchester Minerals’s payout ratio is 139.15%.

Insider Activity at Dorchester Minerals

In other news, CEO Bradley J. Ehrman acquired 3,356 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 117,710 shares in the company, valued at approximately $3,507,758. This represents a 2.93 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Minerals Operating Dorchester bought 7,500 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $31.69 per share, for a total transaction of $237,675.00. Following the completion of the transaction, the insider now owns 41,182 shares of the company’s stock, valued at approximately $1,305,057.58. The trade was a 22.27 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 17,691 shares of company stock worth $548,939. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dorchester Minerals

Hedge funds have recently bought and sold shares of the business. Graney & King LLC purchased a new position in shares of Dorchester Minerals during the 4th quarter valued at approximately $28,000. Tower Research Capital LLC TRC raised its holdings in Dorchester Minerals by 638.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the energy company’s stock valued at $37,000 after acquiring an additional 952 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Dorchester Minerals by 62.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,444 shares of the energy company’s stock valued at $44,000 after acquiring an additional 556 shares during the last quarter. Virtus ETF Advisers LLC grew its holdings in Dorchester Minerals by 7.5% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,729 shares of the energy company’s stock worth $191,000 after acquiring an additional 402 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in shares of Dorchester Minerals in the 4th quarter worth about $200,000. Institutional investors and hedge funds own 19.21% of the company’s stock.

About Dorchester Minerals

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.