Dorchester Minerals (NASDAQ:DMLP) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Dorchester Minerals, L.P. (NASDAQ:DMLP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.59 and traded as high as $28.58. Dorchester Minerals shares last traded at $28.33, with a volume of 214,652 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Dorchester Minerals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Dorchester Minerals Stock Up 1.8%

The company’s fifty day simple moving average is $26.58 and its two-hundred day simple moving average is $24.59. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 24.42 and a beta of 0.61.

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

Dorchester Minerals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Monday, February 2nd were paid a $0.7557 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This is a positive change from Dorchester Minerals’s previous quarterly dividend of $0.69. This represents a $3.02 dividend on an annualized basis and a yield of 10.7%. Dorchester Minerals’s payout ratio is presently 260.34%.

Institutional Investors Weigh In On Dorchester Minerals

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

About Dorchester Minerals

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.