Dorchester Minerals (NASDAQ:DMLP) Stock Crosses Above 200 Day Moving Average – Here’s Why

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 trading hands.

Dorchester Minerals Price Performance

The stock has a market capitalization of $1.62 billion, a P/E ratio of 12.30 and a beta of 1.09. The company’s 50 day simple moving average is $33.05 and its two-hundred day simple moving average is $31.70.

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

Dorchester Minerals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Monday, October 28th were given 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 was Monday, October 28th. This represents a $3.98 annualized dividend and a yield of 11.65%. Dorchester Minerals’s dividend payout ratio is 143.17%.

Insider Buying and Selling at Dorchester Minerals

In other news, CFO Leslie A. Moriyama acquired 12,050 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average cost of $34.41 per share, with a total value of $414,640.50. Following the acquisition, the chief financial officer now owns 83,450 shares of the company’s stock, valued at $2,871,514.50. This trade represents a 16.88 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bradley J. Ehrman bought 14,430 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average price of $34.41 per share, for a total transaction of $496,536.30. Following the completion of the transaction, the chief executive officer now owns 29,622 shares in the company, valued at approximately $1,019,293.02. This trade represents a 94.98 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 41,152 shares of company stock worth $1,388,552. 7.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dorchester Minerals

Several large investors have recently bought and sold shares of the business. HWG Holdings LP bought a new stake in shares of Dorchester Minerals during the 2nd quarter valued at $30,000. JPMorgan Chase & Co. lifted its stake in Dorchester Minerals by 62.6% in the third quarter. JPMorgan Chase & Co. now owns 1,444 shares of the energy company’s stock valued at $44,000 after buying an additional 556 shares during the period. LGT Financial Advisors LLC bought a new position in Dorchester Minerals during the third quarter worth about $166,000. MADDEN SECURITIES Corp acquired a new position in shares of Dorchester Minerals during the 3rd quarter worth about $223,000. Finally, Atomi Financial Group Inc. increased its stake in shares of Dorchester Minerals by 29.0% in the 3rd quarter. Atomi Financial Group Inc. now owns 8,697 shares of the energy company’s stock valued at $262,000 after acquiring an additional 1,954 shares during the last quarter. 19.21% of the stock is currently 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.