Dorchester Minerals (NASDAQ:DMLP) Sees Strong Trading Volume After Insider Buying Activity

Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP) saw strong trading volume on Wednesday following insider buying activity. 347,430 shares traded hands during trading, an increase of 175% from the previous session’s volume of 126,248 shares.The stock last traded at $21.4550 and had previously closed at $21.90.

Specifically, CEO Bradley J. Ehrman purchased 2,487 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average price of $21.60 per share, with a total value of $53,719.20. Following the completion of the purchase, the chief executive officer owned 121,197 shares of the company’s stock, valued at approximately $2,617,855.20. The trade was a 2.10% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Dorchester Minerals in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Dorchester Minerals Price Performance

The company has a market capitalization of $1.03 billion, a PE ratio of 12.36 and a beta of 0.60. The company’s fifty day moving average is $24.31 and its 200-day moving average is $25.93.

Dorchester Minerals (NASDAQ:DMLP) last posted its earnings results on Thursday, November 6th. The energy company reported $0.23 earnings per share for the quarter. Dorchester Minerals had a return on equity of 22.49% and a net margin of 47.35%.

Dorchester Minerals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 3rd were given a dividend of $0.6899 per share. The ex-dividend date of this dividend was Monday, November 3rd. This is an increase from Dorchester Minerals’s previous quarterly dividend of $0.62. This represents a $2.76 dividend on an annualized basis and a yield of 13.0%. Dorchester Minerals’s dividend payout ratio is 255.56%.

Hedge Funds Weigh In On Dorchester Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in DMLP. Wealthedge Investment Advisors LLC bought a new stake in shares of Dorchester Minerals in the 1st quarter valued at about $416,000. Virtu Financial LLC purchased a new stake in Dorchester Minerals during the first quarter valued at approximately $655,000. Adams Asset Advisors LLC lifted its position in Dorchester Minerals by 10.3% during the second quarter. Adams Asset Advisors LLC now owns 617,108 shares of the energy company’s stock valued at $17,193,000 after acquiring an additional 57,600 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Dorchester Minerals by 6.3% in the first quarter. Goldman Sachs Group Inc. now owns 35,684 shares of the energy company’s stock valued at $1,073,000 after acquiring an additional 2,101 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Dorchester Minerals by 258.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 411,908 shares of the energy company’s stock worth $12,390,000 after purchasing an additional 297,029 shares during the last quarter. Hedge funds and other institutional investors own 19.21% of the company’s stock.

About Dorchester Minerals

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.