Dorchester Minerals, L.P. (NASDAQ:DMLP) Short Interest Up 13.4% in October

Dorchester Minerals, L.P. (NASDAQ:DMLP) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 478,600 shares, an increase of 13.4% from the October 15th total of 422,200 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 64,400 shares, the days-to-cover ratio is currently 7.4 days.

Dorchester Minerals Stock Performance

Shares of NASDAQ DMLP traded up $0.10 during mid-day trading on Monday, reaching $33.19. 20,027 shares of the company’s stock were exchanged, compared to its average volume of 68,471. The company’s 50-day moving average is $31.47 and its 200-day moving average is $31.32. Dorchester Minerals has a 52-week low of $27.90 and a 52-week high of $35.74. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 11.95 and a beta of 1.09.

Dorchester Minerals (NASDAQ:DMLP) last posted its 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 firm had revenue of $53.47 million for the quarter.

Dorchester Minerals Increases Dividend

The company also recently announced 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 a positive change 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 12.00%. Dorchester Minerals’s dividend payout ratio is presently 143.17%.

Insider Buying and Selling at Dorchester Minerals

In other Dorchester Minerals news, CFO Leslie A. Moriyama purchased 3,218 shares of the stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $32.60 per share, for a total transaction of $104,906.80. Following the acquisition, the chief financial officer now owns 71,400 shares in the company, valued at $2,327,640. This trade represents a 4.72 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dorchester Minerals

Several hedge funds have recently bought and sold shares of the company. Horizon Kinetics Asset Management LLC lifted its stake in Dorchester Minerals by 0.6% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 896,893 shares of the energy company’s stock worth $27,041,000 after acquiring an additional 5,210 shares in the last quarter. Moors & Cabot Inc. raised its position in Dorchester Minerals by 0.6% in the 3rd quarter. Moors & Cabot Inc. now owns 102,550 shares of the energy company’s stock valued at $3,092,000 after purchasing an additional 639 shares in the last quarter. Independent Advisor Alliance raised its position in Dorchester Minerals by 1.4% in the 3rd quarter. Independent Advisor Alliance now owns 73,340 shares of the energy company’s stock valued at $2,211,000 after purchasing an additional 1,000 shares in the last quarter. GraniteShares Advisors LLC raised its position in Dorchester Minerals by 14.2% in the 2nd quarter. GraniteShares Advisors LLC now owns 60,742 shares of the energy company’s stock valued at $1,874,000 after purchasing an additional 7,576 shares in the last quarter. Finally, Freestone Capital Holdings LLC raised its position in Dorchester Minerals by 182.5% in the 1st quarter. Freestone Capital Holdings LLC now owns 46,619 shares of the energy company’s stock valued at $1,572,000 after purchasing an additional 30,119 shares in the last quarter. Institutional investors and hedge funds own 19.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Dorchester Minerals from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

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.