State of Tennessee Department of Treasury Makes New $201,000 Investment in Dorchester Minerals, L.P. (NASDAQ:DMLP)

State of Tennessee Department of Treasury purchased a new stake in Dorchester Minerals, L.P. (NASDAQ:DMLP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,022 shares of the energy company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DMLP. Graney & King LLC acquired a new stake in Dorchester Minerals during the 4th quarter valued at approximately $28,000. Tower Research Capital LLC TRC increased its position in shares of Dorchester Minerals by 638.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the energy company’s stock worth $37,000 after buying an additional 952 shares during the period. JPMorgan Chase & Co. raised its stake in Dorchester Minerals by 62.6% during the third quarter. JPMorgan Chase & Co. now owns 1,444 shares of the energy company’s stock worth $44,000 after buying an additional 556 shares during the last quarter. HUB Investment Partners LLC acquired a new position in Dorchester Minerals in the fourth quarter valued at $212,000. Finally, Corient Private Wealth LLC bought a new stake in Dorchester Minerals during the fourth quarter valued at $219,000. Institutional investors and hedge funds own 19.21% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Dorchester Minerals from a “buy” rating to a “hold” rating in a research note on Monday, February 24th.

Dorchester Minerals Stock Performance

Dorchester Minerals stock opened at $28.39 on Tuesday. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 13.39 and a beta of 0.79. Dorchester Minerals, L.P. has a 52-week low of $25.84 and a 52-week high of $34.88. The stock’s 50 day moving average price is $29.26 and its two-hundred day moving average price is $31.50.

Dorchester Minerals (NASDAQ:DMLP) last issued its earnings results on Thursday, February 20th. The energy company reported $0.24 earnings per share (EPS) for the quarter. Dorchester Minerals had a net margin of 56.77% and a return on equity of 36.86%. The business had revenue of $39.71 million for the quarter.

Dorchester Minerals Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be paid a $0.7258 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.90 annualized dividend and a dividend yield of 10.23%. Dorchester Minerals’s dividend payout ratio is presently 136.79%.

Insider Activity at Dorchester Minerals

In other Dorchester Minerals news, insider Minerals Operating Dorchester bought 10,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average price of $28.76 per share, for a total transaction of $287,600.00. Following the acquisition, the insider now directly owns 58,017 shares of the company’s stock, valued at approximately $1,668,568.92. The trade was a 20.83 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bradley J. Ehrman purchased 3,356 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $29.80 per share, with a total value of $100,008.80. Following the purchase, the chief executive officer now directly owns 117,710 shares in the company, valued at approximately $3,507,758. The trade was a 2.93 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 13,691 shares of company stock valued at $398,014 in the last three months. Corporate insiders own 5.90% of the company’s stock.

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.