Dorchester Minerals (NASDAQ:DMLP) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Dorchester Minerals, L.P. (NASDAQ:DMLP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.54 and traded as high as $33.39. Dorchester Minerals shares last traded at $32.74, with a volume of 65,619 shares changing hands.

Dorchester Minerals Price Performance

The firm has a 50-day simple moving average of $32.82 and a 200 day simple moving average of $31.54. The company has a market capitalization of $1.55 billion, a PE ratio of 11.78 and a beta of 1.10.

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

Dorchester Minerals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Monday, October 28th were paid a dividend of $0.996 per share. This is an increase from Dorchester Minerals’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.98 annualized dividend and a yield of 12.17%. Dorchester Minerals’s payout ratio is 143.17%.

Insider Buying and Selling at Dorchester Minerals

In other Dorchester Minerals news, CFO Leslie A. Moriyama purchased 12,050 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average price of $34.41 per share, for a total transaction of $414,640.50. Following the completion of the purchase, the chief financial officer now owns 83,450 shares in the company, valued at $2,871,514.50. The trade was a 16.88 % 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, CEO Bradley J. Ehrman acquired 14,430 shares of the stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average price of $34.41 per share, with a total value of $496,536.30. Following the purchase, the chief executive officer now owns 29,622 shares in the company, valued at $1,019,293.02. This represents a 94.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 29,698 shares of company stock valued at $1,016,084 in the last ninety days. Insiders own 7.10% of the company’s stock.

Institutional Trading of Dorchester Minerals

Several institutional investors have recently added to or reduced their stakes in DMLP. Atomi Financial Group Inc. grew its stake in Dorchester Minerals by 7.3% in the second quarter. Atomi Financial Group Inc. now owns 6,743 shares of the energy company’s stock worth $208,000 after purchasing an additional 459 shares in the last quarter. Moors & Cabot Inc. grew its position in shares of Dorchester Minerals by 0.6% in the 3rd quarter. Moors & Cabot Inc. now owns 102,550 shares of the energy company’s stock worth $3,092,000 after acquiring an additional 639 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Dorchester Minerals by 3.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 23,802 shares of the energy company’s stock worth $734,000 after acquiring an additional 688 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in shares of Dorchester Minerals by 7.8% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 9,658 shares of the energy company’s stock valued at $291,000 after acquiring an additional 701 shares during the last quarter. Finally, HWG Holdings LP acquired a new stake in shares of Dorchester Minerals during the 2nd quarter valued at approximately $30,000. 19.21% of the stock is owned by institutional investors and hedge funds.

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.