Dorchester Minerals (NASDAQ:DMLP) Hits New 1-Year Low – What’s Next?

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s share price reached a new 52-week low on Tuesday . The company traded as low as $23.30 and last traded at $23.67, with a volume of 18485 shares. The stock had previously closed at $23.69.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Dorchester Minerals in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Dorchester Minerals Stock Performance

The company has a market capitalization of $1.11 billion, a P/E ratio of 13.65 and a beta of 0.60. The firm’s fifty day moving average is $25.01 and its 200 day moving average is $26.53.

Dorchester Minerals (NASDAQ:DMLP) last issued its quarterly earnings results on Thursday, November 6th. The energy company reported $0.23 EPS for the quarter. Dorchester Minerals had a net margin of 47.35% and a return on equity of 22.49%.

Dorchester Minerals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.6899 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 11.8%. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 3rd. Dorchester Minerals’s dividend payout ratio is 160.47%.

Hedge Funds Weigh In On Dorchester Minerals

Institutional investors have recently modified their holdings of the stock. Winch Advisory Services LLC purchased a new stake in shares of Dorchester Minerals in the 2nd quarter worth approximately $28,000. Geneos Wealth Management Inc. lifted its position in Dorchester Minerals by 59.9% during the first quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company’s stock valued at $35,000 after acquiring an additional 440 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Dorchester Minerals during the second quarter valued at approximately $33,000. PNC Financial Services Group Inc. lifted its position in Dorchester Minerals by 157.0% during the second quarter. PNC Financial Services Group Inc. now owns 2,570 shares of the energy company’s stock valued at $72,000 after acquiring an additional 1,570 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in Dorchester Minerals by 14.1% during the second quarter. Osaic Holdings Inc. now owns 3,748 shares of the energy company’s stock valued at $104,000 after acquiring an additional 463 shares during the last quarter. 19.21% of the stock is owned by hedge funds and other institutional investors.

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.