Dorchester Minerals (NASDAQ:DMLP – Get Free Report) announced its quarterly earnings data on Thursday. The energy company reported $0.54 EPS for the quarter, Zacks reports. Dorchester Minerals had a net margin of 45.45% and a return on equity of 28.43%.
Dorchester Minerals Stock Up 1.7%
DMLP stock opened at $27.71 on Friday. Dorchester Minerals has a twelve month low of $20.85 and a twelve month high of $31.08. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 15.75 and a beta of 0.65. The business has a 50 day moving average price of $29.39 and a two-hundred day moving average price of $27.43.
Dorchester Minerals Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd will be paid a $0.8823 dividend. This is a negative change from Dorchester Minerals’s previous quarterly dividend of $1.2729. This represents a $3.53 dividend on an annualized basis and a yield of 12.7%. The ex-dividend date is Monday, November 2nd. Dorchester Minerals’s dividend payout ratio is 200.00%.
Insider Activity at Dorchester Minerals
In other news, CFO Leslie Moriyama acquired 5,197 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was bought at an average price of $28.30 per share, with a total value 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. The trade was a 5.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.90% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of Dorchester Minerals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company has a consensus rating of “Hold”.
Read Our Latest Report on Dorchester Minerals
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.
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