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

StockNews.com upgraded shares of Dorchester Minerals (NASDAQ:DMLP) from a hold rating to a buy rating in a research note published on Monday morning.

Dorchester Minerals Price Performance

NASDAQ DMLP opened at $27.85 on Monday. Dorchester Minerals has a 12 month low of $26.50 and a 12 month high of $33.18. The firm has a market capitalization of $1.08 billion, a PE ratio of 10.51 and a beta of 1.21. The company’s 50 day simple moving average is $28.74 and its 200 day simple moving average is $29.42.

Dorchester Minerals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Monday, October 30th will be paid a dividend of $0.845 per share. This represents a $3.38 dividend on an annualized basis and a dividend yield of 12.14%. The ex-dividend date of this dividend is Friday, October 27th. This is a positive change from Dorchester Minerals’s previous quarterly dividend of $0.68. Dorchester Minerals’s dividend payout ratio (DPR) is currently 127.55%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Dorchester Minerals in the first quarter worth approximately $13,786,000. O Brien Greene & Co. Inc grew its position in Dorchester Minerals by 200.0% in the second quarter. O Brien Greene & Co. Inc now owns 141,612 shares of the energy company’s stock worth $4,242,000 after buying an additional 94,408 shares during the last quarter. Northern Trust Corp grew its position in Dorchester Minerals by 507.9% in the second quarter. Northern Trust Corp now owns 100,725 shares of the energy company’s stock worth $2,402,000 after buying an additional 84,156 shares during the last quarter. First Republic Investment Management Inc. grew its position in Dorchester Minerals by 484.0% in the first quarter. First Republic Investment Management Inc. now owns 58,370 shares of the energy company’s stock worth $1,768,000 after buying an additional 48,375 shares during the last quarter. Finally, Raymond James & Associates grew its position in Dorchester Minerals by 170.9% in the first quarter. Raymond James & Associates now owns 64,492 shares of the energy company’s stock worth $1,953,000 after buying an additional 40,686 shares during the last quarter. Institutional investors and hedge funds own 20.47% of the company’s stock.

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.