Dorchester Minerals (NASDAQ:DMLP) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Dorchester Minerals (NASDAQ:DMLP – Get Rating) in a research note published on Thursday morning. The firm issued a buy rating on the energy company’s stock.

Dorchester Minerals Stock Performance

Dorchester Minerals stock opened at $27.21 on Thursday. The firm has a market cap of $1.04 billion, a PE ratio of 8.12 and a beta of 1.23. The firm’s 50 day moving average price is $29.93 and its two-hundred day moving average price is $28.94. Dorchester Minerals has a twelve month low of $22.51 and a twelve month high of $32.61.

Dorchester Minerals Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 9th. Shareholders of record on Monday, January 30th were paid a $0.884 dividend. The ex-dividend date was Friday, January 27th. This represents a $3.54 annualized dividend and a yield of 13.00%. Dorchester Minerals’s dividend payout ratio is presently 105.67%.

Insider Buying and Selling at Dorchester Minerals

In other Dorchester Minerals news, insider Minerals Operating Dorchester purchased 7,000 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were bought at an average price of $30.91 per share, for a total transaction of $216,370.00. Following the purchase, the insider now directly owns 16,967 shares in the company, valued at approximately $524,449.97. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.50% of the company’s stock.

Institutional Trading of Dorchester Minerals

Several large investors have recently modified their holdings of the company. Kingsview Wealth Management LLC bought a new stake in shares of Dorchester Minerals during the 2nd quarter worth $10,845,000. Delta Investment Management LLC boosted its holdings in shares of Dorchester Minerals by 0.4% during the 3rd quarter. Delta Investment Management LLC now owns 384,556 shares of the energy company’s stock worth $9,606,000 after buying an additional 1,699 shares during the period. Edge Capital Group LLC bought a new stake in Dorchester Minerals in the 4th quarter valued at $5,934,000. First Trust Advisors LP boosted its holdings in Dorchester Minerals by 20.1% in the 4th quarter. First Trust Advisors LP now owns 192,364 shares of the energy company’s stock valued at $5,757,000 after purchasing an additional 32,180 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Dorchester Minerals by 34.1% in the 2nd quarter. Renaissance Technologies LLC now owns 149,100 shares of the energy company’s stock valued at $3,556,000 after purchasing an additional 37,900 shares during the period. 19.36% of the stock is owned by institutional investors.

Dorchester Minerals Company Profile

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Dorchester Minerals LP engages in the acquisition, ownership, and administration of royalty properties and net profits interests (NPI). The NPI represents a net profits overriding royalty interest burdening various properties owned by its operating partnership. Royalty properties consist of producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests.