Dorchester Minerals (NASDAQ:DMLP) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Dorchester Minerals, L.P. (NASDAQ:DMLP) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $24.21 and traded as high as $27.05. Dorchester Minerals shares last traded at $26.95, with a volume of 115,495 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Dorchester Minerals from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Dorchester Minerals presently has a consensus rating of “Hold”.

Dorchester Minerals Stock Performance

The company has a 50 day moving average of $24.94 and a 200 day moving average of $24.25. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 23.25 and a beta of 0.62.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.32 earnings per share (EPS) for the quarter. The company had revenue of $41.86 million for the quarter. Dorchester Minerals had a return on equity of 17.76% and a net margin of 37.53%.

Dorchester Minerals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 2nd were paid a $0.7557 dividend. This is an increase from Dorchester Minerals’s previous quarterly dividend of $0.69. This represents a $3.02 dividend on an annualized basis and a yield of 11.2%. The ex-dividend date was Monday, February 2nd. Dorchester Minerals’s payout ratio is presently 260.34%.

Insider Buying and Selling

In other news, insider Minerals Operating Dorchester acquired 10,000 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were bought at an average cost of $22.30 per share, with a total value of $223,000.00. Following the transaction, the insider owned 35,017 shares in the company, valued at approximately $780,879.10. This trade represents a 39.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dorchester Minerals

Several institutional investors have recently modified their holdings of the company. MidFirst Bank acquired a new position in shares of Dorchester Minerals during the fourth quarter worth $11,049,000. Virtu Financial LLC acquired a new stake in Dorchester Minerals in the fourth quarter valued at $318,000. Beacon Pointe Advisors LLC raised its stake in Dorchester Minerals by 6.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 48,544 shares of the energy company’s stock valued at $1,085,000 after buying an additional 2,828 shares in the last quarter. Jump Financial LLC lifted its holdings in Dorchester Minerals by 127.2% during the 4th quarter. Jump Financial LLC now owns 49,100 shares of the energy company’s stock worth $1,098,000 after buying an additional 27,491 shares during the last quarter. Finally, &PARTNERS lifted its holdings in Dorchester Minerals by 25.7% during the 4th quarter. &PARTNERS now owns 171,450 shares of the energy company’s stock worth $3,834,000 after buying an additional 35,080 shares during the last quarter. 19.21% of the stock is owned by hedge funds and other institutional investors.

About Dorchester Minerals

Dorchester Minerals, L.P. (NASDAQ: DMLP) is a publicly traded master limited partnership that acquires, owns and manages mineral and royalty interests in oil and natural gas properties. The company holds net revenue interests on producing and non-producing wells, entitling it to a share of production proceeds without bearing the costs or operating responsibilities associated with exploration and development activities. Through strategic acquisitions and joint-venture arrangements, Dorchester Minerals builds a diversified portfolio of royalty assets across multiple U.S.