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

Dorchester Minerals (NASDAQ:DMLP) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

Dorchester Minerals Price Performance

Shares of DMLP stock opened at $28.33 on Friday. Dorchester Minerals has a 1 year low of $22.51 and a 1 year high of $33.18. The stock’s 50 day simple moving average is $30.17 and its two-hundred day simple moving average is $29.64. The company has a market cap of $1.10 billion, a PE ratio of 10.12 and a beta of 1.23.

Dorchester Minerals (NASDAQ:DMLP) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.50 earnings per share for the quarter. Dorchester Minerals had a return on equity of 66.03% and a net margin of 71.90%. The firm had revenue of $30.62 million for the quarter.

Insiders Place Their Bets

In other news, insider Minerals Operating Dorchester acquired 5,000 shares of Dorchester Minerals stock in a transaction on Wednesday, June 14th. The shares were bought at an average cost of $29.10 per share, for a total transaction of $145,500.00. Following the acquisition, the insider now directly owns 39,967 shares of the company’s stock, valued at approximately $1,163,039.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. McIlrath & Eck LLC bought a new stake in Dorchester Minerals during the 4th quarter valued at $30,000. National Bank of Canada FI boosted its position in Dorchester Minerals by 59.2% during the 2nd quarter. National Bank of Canada FI now owns 1,076 shares of the energy company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its position in shares of Dorchester Minerals by 45.0% in the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 1,450 shares of the energy company’s stock worth $43,000 after purchasing an additional 450 shares in the last quarter. HM Payson & Co. acquired a new stake in shares of Dorchester Minerals in the 1st quarter worth $44,000. Finally, Worth Asset Management LLC boosted its position in shares of Dorchester Minerals by 47.8% in the 1st quarter. Worth Asset Management LLC now owns 2,289 shares of the energy company’s stock worth $69,000 after purchasing an additional 740 shares in the last quarter. 20.47% of the stock is currently owned by hedge funds and other institutional investors.

About Dorchester Minerals

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, net profits, and leasehold interests in 592 counties and parishes in 28 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.