Dorchester Minerals (NASDAQ:DMLP) Releases Earnings Results

Dorchester Minerals (NASDAQ:DMLP) announced its earnings results on Thursday. The energy company reported $0.23 earnings per share for the quarter, Zacks reports. Dorchester Minerals had a net margin of 47.35% and a return on equity of 22.49%.

Dorchester Minerals Stock Performance

Shares of DMLP traded up $0.48 during trading hours on Thursday, hitting $23.47. The company had a trading volume of 196,626 shares, compared to its average volume of 120,870. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 13.65 and a beta of 0.60. Dorchester Minerals has a 52-week low of $22.81 and a 52-week high of $34.88. The firm has a fifty day moving average price of $25.01 and a 200-day moving average price of $26.53.

Dorchester Minerals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 3rd will be given a $0.6899 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.76 annualized dividend and a dividend yield of 11.8%. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.62. Dorchester Minerals’s payout ratio is presently 160.47%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DMLP. Royal Bank of Canada raised its holdings in Dorchester Minerals by 5.4% in the first quarter. Royal Bank of Canada now owns 74,470 shares of the energy company’s stock worth $2,240,000 after buying an additional 3,785 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Dorchester Minerals by 6.3% in the first quarter. Goldman Sachs Group Inc. now owns 35,684 shares of the energy company’s stock worth $1,073,000 after buying an additional 2,101 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Dorchester Minerals by 59.9% in the first quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company’s stock worth $35,000 after buying an additional 440 shares during the last quarter. Cetera Investment Advisers purchased a new position in Dorchester Minerals in the second quarter worth about $293,000. Finally, JPMorgan Chase & Co. raised its holdings in Dorchester Minerals by 17.0% in the second quarter. JPMorgan Chase & Co. now owns 10,815 shares of the energy company’s stock worth $301,000 after buying an additional 1,570 shares during the last quarter. 19.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dorchester Minerals in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

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.