Dorchester Minerals (NASDAQ:DMLP) Issues Earnings Results

Dorchester Minerals (NASDAQ:DMLP) posted its quarterly earnings results on Thursday. The energy company reported $0.54 earnings per share for the quarter, Zacks reports. Dorchester Minerals had a return on equity of 28.43% and a net margin of 45.45%.

Dorchester Minerals Stock Performance

NASDAQ:DMLP traded up $0.27 during trading on Friday, reaching $27.53. The company’s stock had a trading volume of 67,556 shares, compared to its average volume of 80,378. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 13.30 and a beta of 0.65. The firm has a 50 day moving average of $29.37 and a 200-day moving average of $27.45. Dorchester Minerals has a 12 month low of $20.85 and a 12 month high of $31.08.

Dorchester Minerals Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd will be given a $0.8823 dividend. This is a decrease from Dorchester Minerals’s previous quarterly dividend of $1.2729. This represents a $3.53 annualized dividend and a yield of 12.8%. The ex-dividend date of this dividend is Monday, November 2nd. Dorchester Minerals’s payout ratio is presently 200.57%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Dorchester Minerals from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Insider Activity

In related news, CFO Leslie Moriyama purchased 5,197 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average price of $28.30 per share, with a total value of $147,075.10. Following the acquisition, the chief financial officer owned 103,405 shares of the company’s stock, valued at $2,926,361.50. This trade represents a 5.29% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.90% of the stock is currently owned by insiders.

About Dorchester Minerals

Dorchester Minerals, L.P. (NASDAQ:DMLP) is a publicly traded energy partnership that owns and manages mineral, royalty, overriding royalty, and net profits interests in oil and natural gas properties. Rather than operating wells directly, the company generally receives payments from exploration and production companies that develop and produce hydrocarbons from its properties.

The partnership’s assets are located across several major U.S. oil and gas regions, including the Permian Basin, the Haynesville and other Gulf Coast areas, the Anadarko Basin, and the Rocky Mountain region.