Dorchester Minerals (NASDAQ:DMLP) Trading Up 1.6%

Dorchester Minerals, L.P. (NASDAQ:DMLP) was up 1.6% during mid-day trading on Friday . The stock traded as high as $34.94 and last traded at $34.70. Approximately 24,950 shares changed hands during trading, a decline of 69% from the average daily volume of 79,602 shares. The stock had previously closed at $34.16.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Dorchester Minerals from a “hold” rating to a “buy” rating in a report on Saturday, January 6th.

Dorchester Minerals Stock Performance

The company has a 50 day simple moving average of $32.08 and a two-hundred day simple moving average of $30.71. The company has a market cap of $1.35 billion, a PE ratio of 12.04 and a beta of 1.11.

Dorchester Minerals (NASDAQ:DMLP) last released its earnings results on Thursday, February 22nd. The energy company reported $0.90 earnings per share for the quarter. Dorchester Minerals had a return on equity of 66.48% and a net margin of 68.89%. The company had revenue of $50.42 million for the quarter.

Dorchester Minerals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 8th. Shareholders of record on Monday, January 29th were paid a dividend of $1.0079 per share. This represents a $4.03 annualized dividend and a yield of 11.79%. The ex-dividend date of this dividend was Friday, January 26th. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.54. Dorchester Minerals’s payout ratio is 141.90%.

Insider Buying and Selling at Dorchester Minerals

In other Dorchester Minerals news, insider Minerals Operating Dorchester bought 7,500 shares of the stock in a transaction on Thursday, January 25th. The shares were bought at an average price of $33.46 per share, with a total value of $250,950.00. Following the purchase, the insider now directly owns 42,299 shares in the company, valued at approximately $1,415,324.54. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 13,775 shares of company stock valued at $448,648 in the last 90 days. 7.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dorchester Minerals

Several large investors have recently made changes to their positions in DMLP. Morgan Stanley grew its stake in shares of Dorchester Minerals by 19.0% in the 3rd quarter. Morgan Stanley now owns 614,015 shares of the energy company’s stock valued at $17,837,000 after buying an additional 98,168 shares in the last quarter. Northern Trust Corp grew its stake in shares of Dorchester Minerals by 507.9% in the 2nd quarter. Northern Trust Corp now owns 100,725 shares of the energy company’s stock valued at $2,402,000 after buying an additional 84,156 shares in the last quarter. First Republic Investment Management Inc. grew its stake in shares of Dorchester Minerals by 484.0% in the 1st quarter. First Republic Investment Management Inc. now owns 58,370 shares of the energy company’s stock valued at $1,768,000 after buying an additional 48,375 shares in the last quarter. Wexford Capital LP bought a new stake in Dorchester Minerals during the second quarter worth approximately $150,000. Finally, Goldman Sachs Group Inc. boosted its position in Dorchester Minerals by 93.1% during the second quarter. Goldman Sachs Group Inc. now owns 82,938 shares of the energy company’s stock worth $1,978,000 after purchasing an additional 39,997 shares during the period. Institutional investors own 19.21% of the company’s stock.

Dorchester Minerals Company Profile

Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of royalty properties in the United States. Its royalty properties include producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests in 593 counties and parishes in 28 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.