Dorchester Minerals, L.P. (NASDAQ:DMLP) Sees Significant Drop in Short Interest

Dorchester Minerals, L.P. (NASDAQ:DMLP) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 407,900 shares, a decline of 6.4% from the August 15th total of 436,000 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 60,000 shares, the short-interest ratio is presently 6.8 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Dorchester Minerals from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

Insiders Place Their Bets

In related news, insider Minerals Operating Dorchester acquired 3,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were purchased at an average price of $32.32 per share, for a total transaction of $96,960.00. Following the acquisition, the insider now owns 61,574 shares in the company, valued at $1,990,071.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DMLP. Mather Group LLC. acquired a new position in Dorchester Minerals during the first quarter worth $25,000. HWG Holdings LP acquired a new stake in shares of Dorchester Minerals in the second quarter valued at $30,000. Perkins Coie Trust Co acquired a new stake in shares of Dorchester Minerals in the second quarter valued at $31,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Dorchester Minerals in the first quarter valued at $34,000. Finally, TCTC Holdings LLC acquired a new stake in shares of Dorchester Minerals in the first quarter valued at $67,000. 19.21% of the stock is currently owned by institutional investors and hedge funds.

Dorchester Minerals Stock Performance

Shares of DMLP traded up $0.12 during mid-day trading on Wednesday, hitting $30.90. The company’s stock had a trading volume of 2,470 shares, compared to its average volume of 68,211. Dorchester Minerals has a one year low of $27.16 and a one year high of $35.74. The firm has a market capitalization of $1.24 billion, a PE ratio of 11.98 and a beta of 1.10. The stock’s 50-day moving average is $30.65 and its two-hundred day moving average is $31.81.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $0.57 earnings per share for the quarter. Dorchester Minerals had a return on equity of 59.40% and a net margin of 66.16%. The company had revenue of $37.36 million during the quarter.

Dorchester Minerals Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were paid a $0.702 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 9.09%. Dorchester Minerals’s payout ratio is 108.95%.

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.