Dorchester Minerals (NASDAQ:DMLP) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.20 and traded as high as $24.99. Dorchester Minerals shares last traded at $24.92, with a volume of 112,533 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Dorchester Minerals in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Dorchester Minerals Price Performance

The company has a market capitalization of $1.20 billion, a PE ratio of 23.07 and a beta of 0.64. The company’s fifty day moving average is $23.17 and its 200-day moving average is $24.20.

Dorchester Minerals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Monday, February 2nd will be paid a $0.7557 dividend. This represents a $3.02 annualized dividend and a yield of 12.1%. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.69. The ex-dividend date is Monday, February 2nd. Dorchester Minerals’s payout ratio is presently 279.63%.

Insiders Place Their Bets

In other news, Director Frank Damon Box purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was acquired at an average cost of $21.96 per share, with a total value of $109,800.00. Following the completion of the transaction, the director owned 9,000 shares in the company, valued at $197,640. This represents a 125.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Leslie A. Moriyama purchased 3,041 shares of the stock in a transaction dated Tuesday, November 25th. The stock was purchased at an average price of $21.50 per share, for a total transaction of $65,381.50. Following the completion of the acquisition, the chief financial officer directly owned 83,673 shares in the company, valued at approximately $1,798,969.50. This represents a 3.77% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 31,338 shares of company stock valued at $687,283 in the last three months. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dorchester Minerals

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Dorchester Minerals by 4,918.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,061 shares of the energy company’s stock worth $68,000 after purchasing an additional 3,000 shares in the last quarter. Americana Partners LLC grew its stake in Dorchester Minerals by 54.6% during the 4th quarter. Americana Partners LLC now owns 56,126 shares of the energy company’s stock worth $1,255,000 after buying an additional 19,820 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Dorchester Minerals by 97.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,070 shares of the energy company’s stock valued at $113,000 after buying an additional 2,500 shares in the last quarter. HighTower Advisors LLC raised its stake in Dorchester Minerals by 43.5% in the fourth quarter. HighTower Advisors LLC now owns 21,145 shares of the energy company’s stock valued at $473,000 after buying an additional 6,413 shares during the last quarter. Finally, Burford Brothers Inc. purchased a new stake in Dorchester Minerals in the fourth quarter valued at about $808,000. 19.21% of the stock is owned by hedge funds and other institutional investors.

Dorchester Minerals Company Profile

Dorchester Minerals, L.P. (NASDAQ: DMLP) is a publicly traded master limited partnership that acquires, owns and manages mineral and royalty interests in oil and natural gas properties. The company holds net revenue interests on producing and non-producing wells, entitling it to a share of production proceeds without bearing the costs or operating responsibilities associated with exploration and development activities. Through strategic acquisitions and joint-venture arrangements, Dorchester Minerals builds a diversified portfolio of royalty assets across multiple U.S.