Dorchester Minerals (NASDAQ:DMLP) Reaches New 52-Week High – Should You Buy?

Dorchester Minerals, L.P. (NASDAQ:DMLP) hit a new 52-week high during trading on Tuesday . The company traded as high as $29.60 and last traded at $29.3050, with a volume of 100 shares trading hands. The stock had previously closed at $29.21.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Dorchester Minerals in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Dorchester Minerals Stock Performance

The business has a fifty day simple moving average of $27.50 and a 200 day simple moving average of $27.24. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 16.85 and a beta of 0.55.

Dorchester Minerals (NASDAQ:DMLP) last released its quarterly earnings results on Thursday, August 6th. The energy company reported $0.62 earnings per share for the quarter. Dorchester Minerals had a return on equity of 28.43% and a net margin of 45.45%.The company had revenue of $56.08 million during the quarter.

Dorchester Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 3rd were given a $1.2729 dividend. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.48. This represents a $5.09 dividend on an annualized basis and a dividend yield of 17.2%. The ex-dividend date of this dividend was Monday, August 3rd. Dorchester Minerals’s dividend payout ratio (DPR) is presently 289.20%.

Insider Buying and Selling at Dorchester Minerals

In other Dorchester Minerals news, CFO Leslie Moriyama purchased 5,197 shares of Dorchester Minerals stock in a transaction on Wednesday, August 19th. The shares were bought at an average price of $28.30 per share, with a total value of $147,075.10. Following the purchase, the chief financial officer directly owned 103,405 shares in the company, valued at $2,926,361.50. This trade represents a 5.29% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Dorchester Minerals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC increased its stake in shares of Dorchester Minerals by 34.6% during the 2nd quarter. Tidal Investments LLC now owns 15,855 shares of the energy company’s stock valued at $400,000 after acquiring an additional 4,079 shares during the last quarter. Burford Brothers Inc. grew its holdings in Dorchester Minerals by 73.1% in the second quarter. Burford Brothers Inc. now owns 51,761 shares of the energy company’s stock valued at $1,307,000 after purchasing an additional 21,865 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in Dorchester Minerals in the second quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new position in Dorchester Minerals during the second quarter worth approximately $348,000. Finally, Redhawk Wealth Advisors Inc. increased its position in Dorchester Minerals by 83.6% during the second quarter. Redhawk Wealth Advisors Inc. now owns 17,743 shares of the energy company’s stock worth $448,000 after purchasing an additional 8,079 shares during the last quarter. Hedge funds and other institutional investors own 19.21% of the company’s stock.

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.