Dorchester Minerals LP (NASDAQ:DMLP) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 88,900 shares, a decline of 12.8% from the May 30th total of 101,900 shares. Based on an average trading volume of 44,500 shares, the short-interest ratio is currently 2.0 days. Approximately 0.3% of the company’s shares are short sold.
Separately, BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Friday.
DMLP traded up $0.31 during midday trading on Friday, reaching $19.20. 60,404 shares of the company’s stock traded hands, compared to its average volume of 33,503. The firm has a fifty day moving average price of $18.44. The company has a market cap of $655.10 million, a PE ratio of 11.11 and a beta of 0.97. The company has a quick ratio of 12.50, a current ratio of 12.50 and a debt-to-equity ratio of 0.02. Dorchester Minerals has a 52 week low of $14.11 and a 52 week high of $21.15.
In related news, insider Minerals Operating Dorchester bought 6,167 shares of the stock in a transaction dated Tuesday, June 18th. The stock was bought at an average price of $18.33 per share, with a total value of $113,041.11. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Bradley J. Ehrman bought 5,773 shares of the stock in a transaction dated Friday, May 10th. The stock was bought at an average cost of $18.89 per share, with a total value of $109,051.97. The disclosure for this purchase can be found here. In the last three months, insiders bought 23,940 shares of company stock valued at $445,313. 9.40% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP raised its position in Dorchester Minerals by 0.4% during the 1st quarter. Royce & Associates LP now owns 694,645 shares of the energy company’s stock valued at $12,684,000 after purchasing an additional 2,568 shares during the last quarter. Adams Asset Advisors LLC grew its holdings in shares of Dorchester Minerals by 0.7% during the 2nd quarter. Adams Asset Advisors LLC now owns 533,397 shares of the energy company’s stock worth $9,766,000 after acquiring an additional 3,734 shares during the period. First Trust Advisors LP grew its holdings in shares of Dorchester Minerals by 3.5% during the 1st quarter. First Trust Advisors LP now owns 319,183 shares of the energy company’s stock worth $5,828,000 after acquiring an additional 10,877 shares during the period. Botty Investors LLC grew its holdings in shares of Dorchester Minerals by 0.4% during the 1st quarter. Botty Investors LLC now owns 308,380 shares of the energy company’s stock worth $5,631,000 after acquiring an additional 1,150 shares during the period. Finally, Creative Planning grew its holdings in shares of Dorchester Minerals by 28.5% during the 1st quarter. Creative Planning now owns 66,065 shares of the energy company’s stock worth $1,206,000 after acquiring an additional 14,655 shares during the period. 16.71% of the stock is owned by institutional investors and hedge funds.
About Dorchester Minerals
Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of producing and nonproducing natural gas and crude oil royalty, net profits, and leasehold interests in the United States. The company's royalty properties consist of producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests located in 574 counties and parishes in 25 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.
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