Dorchester Minerals, L.P. (NASDAQ:DMLP) Sees Significant Growth in Short Interest

Dorchester Minerals, L.P. (NASDAQ:DMLP) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 478,600 shares, a growth of 13.4% from the October 15th total of 422,200 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 64,400 shares, the days-to-cover ratio is presently 7.4 days.

Insider Transactions at Dorchester Minerals

In related news, CFO Leslie A. Moriyama bought 3,218 shares of the stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $32.60 per share, with a total value of $104,906.80. Following the completion of the purchase, the chief financial officer now owns 71,400 shares of the company’s stock, valued at $2,327,640. This trade represents a 4.72 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Dorchester Minerals by 4.7% during the third quarter. Geode Capital Management LLC now owns 24,834 shares of the energy company’s stock worth $749,000 after buying an additional 1,109 shares during the period. HighTower Advisors LLC increased its holdings in Dorchester Minerals by 38.4% in the third quarter. HighTower Advisors LLC now owns 11,515 shares of the energy company’s stock valued at $348,000 after buying an additional 3,192 shares in the last quarter. Principal Street Partners LLC purchased a new stake in Dorchester Minerals during the third quarter worth $291,000. Horizon Kinetics Asset Management LLC lifted its holdings in shares of Dorchester Minerals by 0.6% in the third quarter. Horizon Kinetics Asset Management LLC now owns 896,893 shares of the energy company’s stock valued at $27,041,000 after purchasing an additional 5,210 shares in the last quarter. Finally, Independent Advisor Alliance grew its holdings in Dorchester Minerals by 1.4% during the 3rd quarter. Independent Advisor Alliance now owns 73,340 shares of the energy company’s stock valued at $2,211,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 19.21% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Dorchester Minerals from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

Dorchester Minerals Trading Up 0.4 %

DMLP traded up $0.14 during trading on Monday, hitting $33.23. The company’s stock had a trading volume of 15,201 shares, compared to its average volume of 68,449. The business’s fifty day simple moving average is $31.47 and its 200 day simple moving average is $31.32. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 11.90 and a beta of 1.09. Dorchester Minerals has a twelve month low of $27.90 and a twelve month high of $35.74.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings results on Thursday, October 31st. The energy company reported $0.87 EPS for the quarter. Dorchester Minerals had a return on equity of 48.81% and a net margin of 66.02%. The business had revenue of $53.47 million for the quarter.

Dorchester Minerals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Monday, October 28th were given a $0.996 dividend. This represents a $3.98 annualized dividend and a yield of 11.99%. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.70. Dorchester Minerals’s dividend payout ratio (DPR) is currently 143.17%.

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.