Dorchester Minerals (NASDAQ:DMLP) Downgraded by StockNews.com

StockNews.com cut shares of Dorchester Minerals (NASDAQ:DMLP) from a buy rating to a hold rating in a research note issued to investors on Monday.

Dorchester Minerals Stock Performance

Dorchester Minerals stock opened at $32.30 on Monday. The firm’s 50-day moving average is $33.12 and its 200-day moving average is $31.24. Dorchester Minerals has a 1 year low of $27.16 and a 1 year high of $35.74. The company has a market cap of $1.29 billion, a P/E ratio of 12.57 and a beta of 1.10.

Dorchester Minerals (NASDAQ:DMLP) last released its quarterly earnings data on Thursday, February 22nd. The energy company reported $0.90 earnings per share for the quarter. Dorchester Minerals had a net margin of 66.57% and a return on equity of 59.35%. The business had revenue of $50.42 million for the quarter.

Dorchester Minerals Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, April 29th will be issued a $0.782 dividend. The ex-dividend date is Friday, April 26th. This represents a $3.13 dividend on an annualized basis and a dividend yield of 9.68%. Dorchester Minerals’s payout ratio is currently 121.40%.

Institutional Trading of Dorchester Minerals

A number of hedge funds have recently bought and sold shares of the company. Greenwich Investment Management Inc. raised its holdings in shares of Dorchester Minerals by 7.5% during the fourth quarter. Greenwich Investment Management Inc. now owns 532,089 shares of the energy company’s stock valued at $16,936,000 after acquiring an additional 36,965 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Dorchester Minerals during the 1st quarter valued at $15,347,000. ING Groep NV lifted its holdings in shares of Dorchester Minerals by 36.0% in the fourth quarter. ING Groep NV now owns 121,000 shares of the energy company’s stock valued at $3,851,000 after purchasing an additional 32,000 shares in the last quarter. GraniteShares Advisors LLC boosted its position in shares of Dorchester Minerals by 14.6% in the first quarter. GraniteShares Advisors LLC now owns 53,166 shares of the energy company’s stock worth $1,793,000 after buying an additional 6,762 shares during the period. Finally, Inscription Capital LLC grew its holdings in shares of Dorchester Minerals by 20.9% during the first quarter. Inscription Capital LLC now owns 40,500 shares of the energy company’s stock valued at $1,394,000 after buying an additional 7,000 shares in the last quarter. 19.21% of the stock is owned by hedge funds and other institutional investors.

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.