Dorchester Minerals (NASDAQ:DMLP) Shares Cross Above 200-Day Moving Average – Time to Sell?

Dorchester Minerals, L.P. (NASDAQ:DMLP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.16 and traded as high as $27.48. Dorchester Minerals shares last traded at $27.22, with a volume of 104,584 shares traded.

Analysts Set New Price Targets

Several brokerages have issued reports on DMLP. Weiss Ratings restated a “hold (c)” rating on shares of Dorchester Minerals in a research report on Wednesday, June 24th. Wall Street Zen raised Dorchester Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Dorchester Minerals currently has a consensus rating of “Hold”.

Dorchester Minerals Price Performance

The stock has a market cap of $1.32 billion, a PE ratio of 19.60 and a beta of 0.55. The business has a fifty day moving average of $26.70 and a 200-day moving average of $26.20.

Dorchester Minerals (NASDAQ:DMLP) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.59 EPS for the quarter. The company had revenue of $58.88 million for the quarter. Dorchester Minerals had a return on equity of 22.11% and a net margin of 40.85%.

Dorchester Minerals Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 4th were paid a dividend of $0.475 per share. The ex-dividend date was Monday, May 4th. This represents a $1.90 annualized dividend and a dividend yield of 7.0%. Dorchester Minerals’s dividend payout ratio (DPR) is currently 136.69%.

Insider Activity

In other Dorchester Minerals news, CEO Bradley J. Ehrman acquired 4,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average cost of $26.78 per share, with a total value of $107,120.00. Following the completion of the purchase, the chief executive officer directly owned 142,723 shares in the company, valued at $3,822,121.94. The trade was a 2.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Minerals Operating Dorchester acquired 7,500 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $27.56 per share, with a total value of $206,700.00. Following the completion of the purchase, the insider owned 70,017 shares of the company’s stock, valued at $1,929,668.52. This trade represents a 12.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders purchased 19,000 shares of company stock valued at $526,070 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dorchester Minerals

Hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its holdings 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 buying an additional 440 shares during the period. Farther Finance Advisors LLC purchased a new position in shares of Dorchester Minerals in the 4th quarter valued at $36,000. Kestra Advisory Services LLC purchased a new position in shares of Dorchester Minerals in the 4th quarter valued at $68,000. EverSource Wealth Advisors LLC raised its position in shares of Dorchester Minerals by 4,918.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,061 shares of the energy company’s stock worth $68,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of Dorchester Minerals by 14.1% during the 2nd quarter. Osaic Holdings Inc. now owns 3,748 shares of the energy company’s stock worth $104,000 after purchasing an additional 463 shares during the last quarter. Hedge funds and other institutional investors own 19.21% of the company’s stock.

About Dorchester Minerals

Dorchester Minerals, L.P. (NASDAQ: DMLP) is a publicly traded master limited partnership that acquires, owns and manages mineral and royalty interests in oil and natural gas properties. The company holds net revenue interests on producing and non-producing wells, entitling it to a share of production proceeds without bearing the costs or operating responsibilities associated with exploration and development activities. Through strategic acquisitions and joint-venture arrangements, Dorchester Minerals builds a diversified portfolio of royalty assets across multiple U.S.