BidaskClub cut shares of Dorchester Minerals (NASDAQ:DMLP) from a strong-buy rating to a buy rating in a report published on Wednesday, BidAskClub reports.
Dorchester Minerals stock traded up $0.08 during midday trading on Wednesday, hitting $18.55. 32,662 shares of the stock were exchanged, compared to its average volume of 64,040. Dorchester Minerals has a 1 year low of $14.11 and a 1 year high of $21.15. The company has a market capitalization of $598.79 million, a price-to-earnings ratio of 10.91 and a beta of 1.06.
Dorchester Minerals (NASDAQ:DMLP) last released its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.42 earnings per share (EPS) for the quarter. Dorchester Minerals had a net margin of 73.57% and a return on equity of 61.75%. The firm had revenue of $19.03 million for the quarter.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, April 29th will be paid a dividend of $0.4823 per share. This represents a $1.93 annualized dividend and a yield of 10.40%. The ex-dividend date is Friday, April 26th.
A number of institutional investors have recently added to or reduced their stakes in DMLP. Advisor Group Inc. increased its stake in Dorchester Minerals by 694.0% during the 4th quarter. Advisor Group Inc. now owns 4,780 shares of the energy company’s stock worth $70,000 after buying an additional 4,178 shares during the period. Hsbc Holdings PLC purchased a new stake in Dorchester Minerals during the 4th quarter worth $206,000. Howard Financial Services LTD. purchased a new stake in Dorchester Minerals during the 4th quarter worth $252,000. Barclays PLC increased its stake in Dorchester Minerals by 120.5% during the 4th quarter. Barclays PLC now owns 21,794 shares of the energy company’s stock worth $319,000 after buying an additional 11,912 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Dorchester Minerals by 5.1% during the 4th quarter. Acadian Asset Management LLC now owns 36,105 shares of the energy company’s stock worth $529,000 after buying an additional 1,742 shares during the period. 19.44% of the stock is currently owned by hedge funds and other institutional investors.
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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