Short Interest in Dorchester Minerals, L.P. (NASDAQ:DMLP) Drops By 6.4%

Dorchester Minerals, L.P. (NASDAQ:DMLP) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 407,900 shares, a decline of 6.4% from the August 15th total of 436,000 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 60,000 shares, the days-to-cover ratio is currently 6.8 days.

Dorchester Minerals Stock Down 0.2 %

DMLP opened at $30.72 on Thursday. Dorchester Minerals has a 52 week low of $27.16 and a 52 week high of $35.74. The business has a fifty day simple moving average of $30.65 and a 200-day simple moving average of $31.81. The firm has a market cap of $1.23 billion, a P/E ratio of 11.95 and a beta of 1.10.

Dorchester Minerals (NASDAQ:DMLP) last announced its earnings results on Thursday, August 1st. The energy company reported $0.57 EPS for the quarter. The company had revenue of $37.36 million during the quarter. Dorchester Minerals had a return on equity of 59.40% and a net margin of 66.16%.

Dorchester Minerals Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were paid a $0.702 dividend. This represents a $2.81 annualized dividend and a dividend yield of 9.14%. The ex-dividend date was Monday, July 29th. Dorchester Minerals’s payout ratio is 108.95%.

Insider Buying and Selling at Dorchester Minerals

In other Dorchester Minerals news, insider Minerals Operating Dorchester purchased 2,900 shares of the stock in a transaction dated Friday, July 19th. The stock was acquired at an average cost of $32.23 per share, for a total transaction of $93,467.00. Following the acquisition, the insider now owns 66,352 shares in the company, valued at approximately $2,138,524.96. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Dorchester Minerals

Several large investors have recently added to or reduced their stakes in DMLP. HWG Holdings LP purchased a new position in Dorchester Minerals in the 2nd quarter valued at approximately $30,000. Magnolia Capital Advisors LLC acquired a new stake in shares of Dorchester Minerals in the second quarter valued at $482,000. Hsbc Holdings PLC purchased a new position in Dorchester Minerals in the second quarter valued at $308,000. Moors & Cabot Inc. grew its stake in Dorchester Minerals by 1.6% during the 2nd quarter. Moors & Cabot Inc. now owns 101,911 shares of the energy company’s stock worth $3,144,000 after purchasing an additional 1,611 shares in the last quarter. Finally, GraniteShares Advisors LLC increased its holdings in Dorchester Minerals by 14.2% during the 2nd quarter. GraniteShares Advisors LLC now owns 60,742 shares of the energy company’s stock worth $1,874,000 after purchasing an additional 7,576 shares during the period. 19.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Dorchester Minerals from a “hold” rating to a “buy” rating in a research report on Monday, August 5th.

About Dorchester Minerals

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.