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

Dorchester Minerals, L.P. (NASDAQ:DMLP)’s share price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $27.45 and traded as high as $28.25. Dorchester Minerals shares last traded at $27.53, with a volume of 67,556 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Dorchester Minerals from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Dorchester Minerals Stock Performance

The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 13.30 and a beta of 0.65. The firm’s 50-day moving average price is $29.37 and its two-hundred day moving average price is $27.45.

Dorchester Minerals (NASDAQ:DMLP) last issued its earnings results on Thursday, November 5th. The energy company reported $0.54 earnings per share (EPS) for the quarter. Dorchester Minerals had a return on equity of 34.38% and a net margin of 49.84%.

Dorchester Minerals Cuts Dividend

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

Insider Activity at Dorchester Minerals

In related news, CFO Leslie Moriyama purchased 5,197 shares of Dorchester Minerals stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average price of $28.30 per share, for a total transaction of $147,075.10. Following the transaction, the chief financial officer directly owned 103,405 shares in the company, valued at approximately $2,926,361.50. This represents a 5.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.90% of the company’s stock.

Institutional Trading of Dorchester Minerals

Hedge funds and other institutional investors have recently modified their holdings of the stock. MGO One Seven LLC lifted its position in Dorchester Minerals by 3.3% in the third quarter. MGO One Seven LLC now owns 10,599 shares of the energy company’s stock valued at $297,000 after purchasing an additional 334 shares during the last quarter. State of Wyoming raised its holdings in Dorchester Minerals by 6.9% during the 3rd quarter. State of Wyoming now owns 5,308 shares of the energy company’s stock valued at $149,000 after buying an additional 344 shares during the last quarter. Baker Tilly Wealth Management LLC increased its position in shares of Dorchester Minerals by 4.6% in the third quarter. Baker Tilly Wealth Management LLC now owns 14,750 shares of the energy company’s stock valued at $414,000 after acquiring an additional 650 shares during the period. Moors & Cabot Inc. increased its position in shares of Dorchester Minerals by 0.9% in the third quarter. Moors & Cabot Inc. now owns 78,730 shares of the energy company’s stock valued at $2,208,000 after acquiring an additional 670 shares during the period. Finally, Apollon Wealth Management LLC raised its stake in shares of Dorchester Minerals by 3.3% during the third quarter. Apollon Wealth Management LLC now owns 21,538 shares of the energy company’s stock valued at $604,000 after acquiring an additional 697 shares during the last quarter. Institutional investors and hedge funds own 19.21% of the company’s stock.

Dorchester Minerals Company Profile

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.