Dorchester Minerals (NASDAQ:DMLP) Shares Pass Above 200 Day Moving Average – Time to Sell?

Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.11 and traded as high as $27.50. Dorchester Minerals shares last traded at $26.77, with a volume of 294,968 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Dorchester Minerals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Dorchester Minerals Trading Down 1.0%

The company has a market cap of $1.29 billion, a price-to-earnings ratio of 23.08 and a beta of 0.62. The stock has a 50-day simple moving average of $24.23 and a 200-day simple moving average of $24.11.

Dorchester Minerals (NASDAQ:DMLP) last issued its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.32 earnings per share for the quarter. The business had revenue of $41.86 million for the quarter. Dorchester Minerals had a net margin of 37.53% and a return on equity of 17.76%.

Dorchester Minerals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Monday, February 2nd were paid a $0.7557 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.02 dividend on an annualized basis and a dividend yield of 11.3%. This is an increase from Dorchester Minerals’s previous quarterly dividend of $0.69. Dorchester Minerals’s dividend payout ratio (DPR) is currently 260.34%.

Insider Activity

In related news, insider Minerals Operating Dorchester acquired 10,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average price of $22.30 per share, for a total transaction of $223,000.00. Following the completion of the purchase, the insider directly owned 35,017 shares of the company’s stock, valued at $780,879.10. The trade was a 39.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dorchester Minerals

Several hedge funds have recently modified their holdings of DMLP. MidFirst Bank bought a new stake in shares of Dorchester Minerals in the 4th quarter worth $11,049,000. Virtu Financial LLC acquired a new position in Dorchester Minerals during the fourth quarter worth about $318,000. Beacon Pointe Advisors LLC raised its position in Dorchester Minerals by 6.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 48,544 shares of the energy company’s stock worth $1,085,000 after acquiring an additional 2,828 shares in the last quarter. Jump Financial LLC lifted its holdings in Dorchester Minerals by 127.2% in the 4th quarter. Jump Financial LLC now owns 49,100 shares of the energy company’s stock valued at $1,098,000 after acquiring an additional 27,491 shares during the last quarter. Finally, &PARTNERS lifted its holdings in Dorchester Minerals by 25.7% in the 4th quarter. &PARTNERS now owns 171,450 shares of the energy company’s stock valued at $3,834,000 after acquiring an additional 35,080 shares during the last quarter. 19.21% of the stock is currently owned by institutional investors and hedge funds.

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.