Dorchester Minerals (NASDAQ:DMLP) Shares Gap Up – Still a Buy?

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $24.74, but opened at $25.86. Dorchester Minerals shares last traded at $24.66, with a volume of 23,278 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Dorchester Minerals in a research report on Wednesday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Dorchester Minerals Trading Down 3.3%

The company’s 50-day moving average price is $25.26 and its two-hundred day moving average price is $27.08. The company has a market cap of $1.13 billion, a P/E ratio of 13.91 and a beta of 0.61.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings data on Thursday, August 7th. The energy company reported $0.25 earnings per share for the quarter. Dorchester Minerals had a net margin of 47.35% and a return on equity of 22.49%. The company had revenue of $32.40 million during the quarter.

Dorchester Minerals Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 4th were issued a dividend of $0.6202 per share. The ex-dividend date was Monday, August 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 10.4%. Dorchester Minerals’s payout ratio is currently 144.19%.

Institutional Investors Weigh In On Dorchester Minerals

Several hedge funds have recently made changes to their positions in the company. Baker Tilly Wealth Management LLC lifted its position in shares of Dorchester Minerals by 3.3% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 13,088 shares of the energy company’s stock valued at $339,000 after acquiring an additional 412 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Dorchester Minerals by 59.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company’s stock valued at $35,000 after acquiring an additional 440 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Dorchester Minerals by 14.1% in the 2nd quarter. Osaic Holdings Inc. now owns 3,748 shares of the energy company’s stock valued at $104,000 after acquiring an additional 463 shares in the last quarter. MADDEN SECURITIES Corp lifted its position in shares of Dorchester Minerals by 3.9% in the 2nd quarter. MADDEN SECURITIES Corp now owns 13,382 shares of the energy company’s stock valued at $373,000 after acquiring an additional 500 shares in the last quarter. Finally, Americana Partners LLC lifted its position in shares of Dorchester Minerals by 1.5% in the 2nd quarter. Americana Partners LLC now owns 33,306 shares of the energy company’s stock valued at $928,000 after acquiring an additional 500 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.