Dorchester Minerals (NASDAQ:DMLP) Stock Crosses Above Two Hundred Day Moving Average of $31.36

Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $31.36 and traded as high as $32.46. Dorchester Minerals shares last traded at $31.72, with a volume of 31,676 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered Dorchester Minerals from a “buy” rating to a “hold” rating in a report on Monday, May 6th.

Dorchester Minerals Price Performance

The business has a 50-day moving average of $33.27 and a two-hundred day moving average of $31.36. The company has a market cap of $1.27 billion, a P/E ratio of 12.34 and a beta of 1.10.

Dorchester Minerals (NASDAQ:DMLP) last released its quarterly earnings results on Thursday, February 22nd. The energy company reported $0.90 earnings per share for the quarter. Dorchester Minerals had a net margin of 66.57% and a return on equity of 59.35%. The business had revenue of $50.42 million for the quarter.

Dorchester Minerals Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Monday, April 29th were issued a $0.782 dividend. This represents a $3.13 annualized dividend and a yield of 9.86%. The ex-dividend date of this dividend was Friday, April 26th. Dorchester Minerals’s dividend payout ratio is currently 121.79%.

Institutional Trading of Dorchester Minerals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Dorchester Minerals in the first quarter valued at about $15,347,000. Custom Index Systems LLC purchased a new position in shares of Dorchester Minerals in the 4th quarter valued at approximately $1,256,000. Greenwich Investment Management Inc. boosted its stake in Dorchester Minerals by 7.5% in the 4th quarter. Greenwich Investment Management Inc. now owns 532,089 shares of the energy company’s stock worth $16,936,000 after purchasing an additional 36,965 shares in the last quarter. ING Groep NV grew its position in Dorchester Minerals by 36.0% during the 4th quarter. ING Groep NV now owns 121,000 shares of the energy company’s stock worth $3,851,000 after purchasing an additional 32,000 shares during the last quarter. Finally, Freestone Capital Holdings LLC increased its stake in Dorchester Minerals by 182.5% during the 1st quarter. Freestone Capital Holdings LLC now owns 46,619 shares of the energy company’s stock valued at $1,572,000 after purchasing an additional 30,119 shares in the last quarter. Hedge funds and other institutional investors own 19.21% of the company’s stock.

Dorchester Minerals Company Profile

Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of royalty properties in the United States. Its royalty properties include producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests in 593 counties and parishes in 28 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.