StockNews.com upgraded shares of Dorchester Minerals (NASDAQ:DMLP – Free Report) from a hold rating to a buy rating in a report published on Monday morning.
Dorchester Minerals Stock Up 1.5 %
Shares of Dorchester Minerals stock traded up $0.43 on Monday, reaching $29.55. 116,609 shares of the stock were exchanged, compared to its average volume of 71,233. Dorchester Minerals has a twelve month low of $27.16 and a twelve month high of $35.74. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 11.33 and a beta of 1.11. The business has a 50 day moving average price of $31.35 and a two-hundred day moving average price of $31.96.
Dorchester Minerals Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Monday, July 29th will be issued a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a dividend yield of 9.50%. The ex-dividend date is Monday, July 29th. Dorchester Minerals’s dividend payout ratio (DPR) is 108.95%.
Insider Buying and Selling
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of DMLP. Mather Group LLC. acquired a new position in Dorchester Minerals in the first quarter valued at approximately $25,000. Perkins Coie Trust Co purchased a new stake in shares of Dorchester Minerals in the second quarter valued at approximately $31,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Dorchester Minerals in the first quarter valued at approximately $34,000. Tower Research Capital LLC TRC increased its position in shares of Dorchester Minerals by 240.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,068 shares of the energy company’s stock valued at $34,000 after buying an additional 754 shares in the last quarter. Finally, TCTC Holdings LLC purchased a new stake in shares of Dorchester Minerals in the first quarter valued at approximately $67,000. 19.21% of the stock is owned by institutional investors and hedge funds.
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.
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