Dorchester Minerals (NASDAQ:DMLP) Sees Large Volume Increase Following Dividend Announcement

Dorchester Minerals, L.P. (NASDAQ:DMLP) saw unusually-high trading volume on Friday following a dividend announcement from the company. Approximately 387,154 shares changed hands during mid-day 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 paid a dividend of $1.2729 per share. This is a positive change from Dorchester Minerals’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, August 3rd. This represents a $5.09 dividend on an annualized basis and a dividend yield of 18.3%. Dorchester Minerals’s dividend payout ratio is presently 136.69%.

Wall Street Analyst Weigh In

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

Dorchester Minerals Stock Up 1.3%

The company has a market capitalization of $1.34 billion, a PE ratio of 19.99 and a beta of 0.55. The company’s 50 day moving average is $26.76 and its two-hundred day moving average is $26.38.

Dorchester Minerals (NASDAQ:DMLP) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.59 earnings per share (EPS) for the quarter. The company 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%.

Insider Activity

In other news, insider Minerals Operating Dorchester bought 7,500 shares of Dorchester Minerals stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $27.56 per share, with a total value of $206,700.00. Following the completion of the acquisition, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bradley J. Ehrman bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $26.78 per share, for a total transaction of $107,120.00. Following the completion of the transaction, the chief executive officer directly 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 disclosure for this purchase is available in the SEC filing. Insiders bought 19,000 shares of company stock worth $526,070 over the last ninety days. Insiders own 5.90% of the company’s stock.

Institutional Trading of Dorchester Minerals

A number of large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Dorchester Minerals by 5.4% during the 1st quarter. Royal Bank of Canada now owns 74,470 shares of the energy company’s stock valued at $2,240,000 after acquiring an additional 3,785 shares during the last quarter. Goldman Sachs Group Inc. increased its position 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 worth $1,073,000 after purchasing an additional 2,101 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Dorchester Minerals by 59.9% in 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. Cetera Investment Advisers purchased a new stake in Dorchester Minerals during the second quarter valued at $293,000. Finally, JPMorgan Chase & Co. raised its stake in Dorchester Minerals by 17.0% during the second quarter. JPMorgan Chase & Co. now owns 10,815 shares of the energy company’s stock valued at $301,000 after purchasing an additional 1,570 shares in the last quarter. Institutional investors own 19.21% of the company’s stock.

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.