Dorchester Minerals, L.P. (NASDAQ:DMLP) Raises Dividend to $0.75 Per Share

Dorchester Minerals, L.P. (NASDAQ:DMLP – Get Rating) declared a quarterly dividend on Thursday, April 21st, Zacks reports. Stockholders of record on Monday, May 2nd will be paid a dividend of 0.754 per share by the energy company on Thursday, May 12th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 11.60%. The ex-dividend date of this dividend is Friday, April 29th. This is a positive change from Dorchester Minerals’s previous quarterly dividend of $0.64.

Shares of DMLP opened at $26.00 on Friday. The firm has a market capitalization of $961.61 million, a price-to-earnings ratio of 13.40 and a beta of 1.19. Dorchester Minerals has a one year low of $14.37 and a one year high of $27.50. The stock’s fifty day moving average is $24.40 and its 200-day moving average is $21.67.

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

In related news, COO Bradley J. Ehrman purchased 1,309 shares of the firm’s stock in a transaction that occurred on Wednesday, March 9th. The stock was acquired at an average price of $23.03 per share, for a total transaction of $30,146.27. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Leslie A. Moriyama purchased 1,945 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The stock was bought at an average price of $24.58 per share, with a total value of $47,808.10. The disclosure for this purchase can be found here. Company insiders own 7.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Peapack Gladstone Financial Corp boosted its position in Dorchester Minerals by 8.8% during the 4th quarter. Peapack Gladstone Financial Corp now owns 26,381 shares of the energy company’s stock worth $522,000 after acquiring an additional 2,123 shares during the period. LPL Financial LLC raised its stake in shares of Dorchester Minerals by 7.0% during the 3rd quarter. LPL Financial LLC now owns 38,095 shares of the energy company’s stock worth $730,000 after purchasing an additional 2,500 shares in the last quarter. Northern Trust Corp raised its stake in shares of Dorchester Minerals by 15.2% during the 4th quarter. Northern Trust Corp now owns 20,243 shares of the energy company’s stock worth $401,000 after purchasing an additional 2,674 shares in the last quarter. UBS Group AG raised its stake in shares of Dorchester Minerals by 20.5% during the 3rd quarter. UBS Group AG now owns 31,403 shares of the energy company’s stock worth $601,000 after purchasing an additional 5,343 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Dorchester Minerals by 17.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 45,288 shares of the energy company’s stock worth $896,000 after purchasing an additional 6,677 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Separately, StockNews.com raised Dorchester Minerals from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

About Dorchester Minerals (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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