Dorchester Minerals (NASDAQ:DMLP) Sees Strong Trading Volume Following Dividend Announcement

Dorchester Minerals, L.P. (NASDAQ:DMLP) shares saw an uptick in trading volume on Friday following a dividend announcement from the company. Approximately 387,154 shares were traded during trading, an increase of 117% from the previous session’s volume of 178,211 shares.The stock last traded at $27.78 and had previously closed at $27.44.

The newly announced dividend which will be paid on Thursday, August 13th. Investors of record on Monday, August 3rd will be given a dividend of $1.2729 per share. The ex-dividend date is Monday, August 3rd. This represents a $5.09 annualized dividend and a dividend yield of 18.3%. This is an increase from Dorchester Minerals’s previous quarterly dividend of $0.48. Dorchester Minerals’s payout ratio is presently 136.69%.

Analyst Ratings Changes

A number of research firms recently issued reports on DMLP. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dorchester Minerals in a research note on Wednesday, June 24th. Wall Street Zen raised Dorchester Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Dorchester Minerals Price Performance

The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 19.99 and a beta of 0.55. The business’s 50-day moving average price is $26.76 and its two-hundred day moving average price is $26.38.

Dorchester Minerals (NASDAQ:DMLP) last announced its earnings results on Wednesday, May 6th. The energy company reported $0.59 earnings per share (EPS) for the quarter. The firm had revenue of $58.88 million for the quarter. Dorchester Minerals had a net margin of 40.85% and a return on equity of 22.11%.

Insiders Place Their Bets

In other Dorchester Minerals news, CEO Bradley J. Ehrman bought 4,000 shares of Dorchester Minerals stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $26.78 per share, for a total transaction of $107,120.00. Following the completion of the transaction, the chief executive officer owned 142,723 shares of the company’s stock, valued at $3,822,121.94. This represents a 2.88% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Minerals Operating Dorchester bought 7,500 shares of Dorchester Minerals stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price of $27.56 per share, for a total transaction of $206,700.00. Following the completion of the transaction, the insider directly owned 70,017 shares of the company’s stock, valued at $1,929,668.52. This trade represents a 12.00% increase in their position. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders bought 19,000 shares of company stock valued at $526,070. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Dorchester Minerals

Hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. increased its position in Dorchester Minerals by 59.9% during the first quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company’s stock worth $35,000 after purchasing an additional 440 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of Dorchester Minerals during the 4th quarter worth $36,000. EverSource Wealth Advisors LLC raised its position in shares of Dorchester Minerals by 4,918.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,061 shares of the energy company’s stock worth $68,000 after buying an additional 3,000 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Dorchester Minerals in the 4th quarter worth $68,000. Finally, Osaic Holdings Inc. boosted its holdings in Dorchester Minerals by 14.1% in the second 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 during the last quarter. 19.21% of the stock is owned by institutional investors and hedge funds.

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.