Dorchester Minerals (NASDAQ:DMLP) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Dorchester Minerals (NASDAQ:DMLP) from a sell rating to a hold rating in a research note released on Friday morning, BidAskClub reports.

NASDAQ:DMLP opened at $19.25 on Friday. Dorchester Minerals has a 12-month low of $14.11 and a 12-month high of $21.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.50 and a quick ratio of 12.50. The firm has a market capitalization of $667.24 million, a price-to-earnings ratio of 11.29 and a beta of 0.97. The business has a 50-day simple moving average of $18.46.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.42 earnings per share (EPS) for the quarter. Dorchester Minerals had a net margin of 74.48% and a return on equity of 58.74%. The firm had revenue of $19.03 million during the quarter.

In other news, COO Bradley J. Ehrman acquired 5,773 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were purchased at an average cost of $18.89 per share, with a total value of $109,051.97. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Minerals Operating Dorchester acquired 6,167 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were purchased at an average cost of $18.33 per share, for a total transaction of $113,041.11. The disclosure for this purchase can be found here. Insiders purchased 23,940 shares of company stock valued at $445,313 in the last three months. Company insiders own 9.40% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Advisor Group Inc. grew its stake in Dorchester Minerals by 694.0% during the fourth quarter. Advisor Group Inc. now owns 4,780 shares of the energy company’s stock worth $70,000 after buying an additional 4,178 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of Dorchester Minerals by 1,228.0% during the second quarter. AdvisorNet Financial Inc now owns 3,984 shares of the energy company’s stock valued at $73,000 after purchasing an additional 3,684 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Dorchester Minerals during the fourth quarter valued at approximately $206,000. Howard Financial Services LTD. bought a new stake in shares of Dorchester Minerals during the fourth quarter valued at approximately $252,000. Finally, Barclays PLC grew its stake in shares of Dorchester Minerals by 120.5% during the fourth quarter. Barclays PLC now owns 21,794 shares of the energy company’s stock valued at $319,000 after purchasing an additional 11,912 shares during the last quarter. 16.71% of the stock is currently owned by hedge funds and other institutional investors.

Dorchester Minerals Company Profile

Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of producing and nonproducing natural gas and crude oil royalty, net profits, and leasehold interests in the United States. The company's royalty properties consist of producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests located in 574 counties and parishes in 25 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.

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