Dorchester Minerals (NASDAQ:DMLP) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Dorchester Minerals, L.P. (NASDAQ:DMLP) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.70 and traded as high as $34.72. Dorchester Minerals shares last traded at $34.20, with a volume of 56,592 shares traded.

Dorchester Minerals Stock Performance

The firm has a market cap of $1.62 billion, a P/E ratio of 12.30 and a beta of 1.09. The stock’s 50-day moving average is $33.05 and its 200 day moving average is $31.70.

Dorchester Minerals (NASDAQ:DMLP) last announced its quarterly earnings results on Thursday, October 31st. The energy company reported $0.87 earnings per share (EPS) for the quarter. Dorchester Minerals had a return on equity of 48.81% and a net margin of 66.02%. The company had revenue of $53.47 million during the quarter.

Dorchester Minerals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Monday, October 28th were paid a $0.996 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.98 dividend on an annualized basis and a yield of 11.65%. This is a positive change from Dorchester Minerals’s previous quarterly dividend of $0.70. Dorchester Minerals’s payout ratio is presently 143.17%.

Insider Transactions at Dorchester Minerals

In other news, CEO Bradley J. Ehrman bought 14,430 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average price of $34.41 per share, for a total transaction of $496,536.30. Following the purchase, the chief executive officer now owns 29,622 shares of the company’s stock, valued at approximately $1,019,293.02. The trade was a 94.98 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Minerals Operating Dorchester purchased 954 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $33.19 per share, with a total value of $31,663.26. Following the completion of the purchase, the insider now directly owns 33,682 shares in the company, valued at approximately $1,117,905.58. This represents a 2.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 41,152 shares of company stock valued at $1,388,552 over the last quarter. Corporate insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Magnolia Capital Advisors LLC acquired a new position in shares of Dorchester Minerals during the 2nd quarter worth about $482,000. One Charles Private Wealth Services LLC acquired a new position in Dorchester Minerals during the third quarter valued at approximately $331,000. Hsbc Holdings PLC bought a new position in Dorchester Minerals in the second quarter valued at approximately $308,000. Exchange Traded Concepts LLC bought a new position in Dorchester Minerals in the third quarter valued at approximately $300,000. Finally, Principal Street Partners LLC acquired a new position in shares of Dorchester Minerals during the 3rd quarter worth approximately $291,000. Institutional investors and hedge funds 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.