Dorchester Minerals, L.P. (NASDAQ:DMLP) Announces $0.78 Quarterly Dividend

Dorchester Minerals, L.P. (NASDAQ:DMLP) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Investors of record on Monday, April 29th will be paid a dividend of 0.782 per share by the energy company on Thursday, May 9th. This represents a $3.13 dividend on an annualized basis and a dividend yield of 9.25%. The ex-dividend date of this dividend is Friday, April 26th.

Dorchester Minerals Price Performance

Shares of Dorchester Minerals stock opened at $33.83 on Friday. The firm has a market cap of $1.34 billion, a P/E ratio of 11.91 and a beta of 1.11. The firm has a 50 day simple moving average of $32.47 and a 200 day simple moving average of $30.86. Dorchester Minerals has a fifty-two week low of $27.02 and a fifty-two week high of $35.74.

Dorchester Minerals (NASDAQ:DMLP) last issued its quarterly earnings results on Thursday, February 22nd. The energy company reported $0.90 earnings per share for the quarter. The business had revenue of $50.42 million during the quarter. Dorchester Minerals had a net margin of 68.89% and a return on equity of 66.48%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Dorchester Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, January 6th.

Insider Buying and Selling at Dorchester Minerals

In other news, insider Minerals Operating Dorchester purchased 5,000 shares of Dorchester Minerals stock in a transaction dated Tuesday, January 30th. The shares were bought at an average cost of $31.66 per share, with a total value of $158,300.00. Following the completion of the transaction, the insider now directly owns 47,299 shares in the company, valued at approximately $1,497,486.34. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have acquired 13,775 shares of company stock valued at $448,648. 7.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dorchester Minerals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV boosted its position in shares of Dorchester Minerals by 4.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,970 shares of the energy company’s stock worth $254,000 after purchasing an additional 334 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its position in shares of Dorchester Minerals by 45.0% during the second quarter. Pin Oak Investment Advisors Inc. now owns 1,450 shares of the energy company’s stock worth $43,000 after purchasing an additional 450 shares in the last quarter. Cannell Capital LLC boosted its position in shares of Dorchester Minerals by 35.2% during the first quarter. Cannell Capital LLC now owns 3,399 shares of the energy company’s stock worth $88,000 after purchasing an additional 885 shares in the last quarter. McIlrath & Eck LLC acquired a new stake in shares of Dorchester Minerals during the fourth quarter worth $30,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Dorchester Minerals by 7.9% during the fourth quarter. Renaissance Technologies LLC now owns 13,700 shares of the energy company’s stock worth $410,000 after acquiring an additional 1,000 shares during the period. 19.21% of the stock is owned by institutional investors.

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.