Dorchester Minerals (NASDAQ:DMLP) Stock Breaks Above Two Hundred Day Moving Average – Here’s Why

Dorchester Minerals, L.P. (NASDAQ:DMLP) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $27.62 and traded as high as $29.34. Dorchester Minerals shares last traded at $29.01, with a volume of 75,062 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Dorchester Minerals from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Dorchester Minerals Price Performance

The stock has a market cap of $1.46 billion, a P/E ratio of 16.90 and a beta of 0.64. The company’s 50 day simple moving average is $28.52 and its 200 day simple moving average is $27.63.

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

Dorchester Minerals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 3rd were paid a $1.2729 dividend. This represents a $5.09 dividend on an annualized basis and a dividend yield of 17.1%. The ex-dividend date was Monday, August 3rd. This is a positive change from Dorchester Minerals’s previous quarterly dividend of $0.4750. Dorchester Minerals’s dividend payout ratio is currently 289.20%.

Insider Transactions at Dorchester Minerals

In other Dorchester Minerals news, CFO Leslie Moriyama acquired 5,197 shares of the stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average cost of $28.30 per share, with a total value of $147,075.10. Following the transaction, the chief financial officer owned 103,405 shares in the company, valued at approximately $2,926,361.50. The trade was a 5.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DMLP. Adams Asset Advisors LLC lifted its position in shares of Dorchester Minerals by 1.6% during the third quarter. Adams Asset Advisors LLC now owns 925,684 shares of the energy company’s stock worth $25,956,000 after acquiring an additional 14,750 shares in the last quarter. Baker Tilly Wealth Management LLC raised its holdings in shares of Dorchester Minerals by 4.6% during the third quarter. Baker Tilly Wealth Management LLC now owns 14,750 shares of the energy company’s stock valued at $414,000 after acquiring an additional 650 shares in the last quarter. Tidal Investments LLC boosted its holdings in Dorchester Minerals by 34.6% in the second 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 in the last quarter. Burford Brothers Inc. increased its position in Dorchester Minerals by 73.1% during the 2nd 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. Finally, Pin Oak Investment Advisors Inc. bought a new position in Dorchester Minerals in the 2nd quarter worth $25,000. Institutional investors own 19.21% of the company’s stock.

Dorchester Minerals Company Profile

Dorchester Minerals, L.P. is a publicly traded master limited partnership that owns and manages oil and natural gas mineral interests in the United States. Its assets include producing and non-producing mineral and royalty interests, overriding royalty interests, net profits interests, leasehold interests and other related energy properties.

The partnership generally leases its mineral interests to exploration and production companies rather than directly developing most properties. It earns revenue primarily from royalties and other payments associated with oil and natural gas production, as well as lease bonuses and related interests.