Dorchester Minerals (NASDAQ:DMLP) Lowered to Buy at StockNews.com

Dorchester Minerals (NASDAQ:DMLPGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.

Shares of NASDAQ DMLP traded up $0.38 during midday trading on Wednesday, hitting $26.17. 148,305 shares of the company’s stock traded hands, compared to its average volume of 91,868. Dorchester Minerals has a 1 year low of $13.75 and a 1 year high of $27.50. The stock has a market capitalization of $967.90 million, a price-to-earnings ratio of 13.49 and a beta of 1.19. The firm has a fifty day moving average of $24.02 and a 200 day moving average of $21.36.

Dorchester Minerals (NASDAQ:DMLPGet Rating) last released its quarterly earnings results on Thursday, February 24th. The energy company reported $0.66 EPS for the quarter. Dorchester Minerals had a net margin of 75.11% and a return on equity of 63.57%. The firm had revenue of $30.30 million during the quarter.

In other news, COO Bradley J. Ehrman bought 1,309 shares of Dorchester Minerals stock in a transaction that occurred on Wednesday, March 9th. The stock was bought at an average cost of $23.03 per share, with a total value of $30,146.27. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Leslie A. Moriyama bought 1,945 shares of Dorchester Minerals stock in a transaction that occurred on Tuesday, March 8th. The stock was purchased at an average cost of $24.58 per share, with a total value of $47,808.10. The disclosure for this purchase can be found here. 7.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Cannell Capital LLC bought a new position in Dorchester Minerals in the 3rd quarter worth approximately $58,000. Acadian Asset Management LLC bought a new position in Dorchester Minerals in the 4th quarter worth approximately $106,000. Huntington National Bank bought a new position in Dorchester Minerals in the 3rd quarter worth approximately $112,000. Geneos Wealth Management Inc. boosted its stake in Dorchester Minerals by 132.1% in the 4th quarter. Geneos Wealth Management Inc. now owns 6,500 shares of the energy company’s stock worth $128,000 after purchasing an additional 3,700 shares during the period. Finally, Advisor Group Holdings Inc. boosted its stake in Dorchester Minerals by 11.7% in the 4th quarter. Advisor Group Holdings Inc. now owns 6,696 shares of the energy company’s stock worth $133,000 after purchasing an additional 700 shares during the period. 16.64% of the stock is owned by institutional investors.

Dorchester Minerals Company Profile (Get Rating)

Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of producing and nonproducing natural gas and crude oil royalty, net profit, and leasehold interests in the United States. Its royalty properties consist of producing and nonproducing mineral, royalty, and overriding royalty interests located in 582 counties and parishes in 26 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.

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