Penbrook Management LLC Sells 600 Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP)

Penbrook Management LLC cut its stake in Dorchester Minerals, L.P. (NASDAQ:DMLP) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,450 shares of the energy company’s stock after selling 600 shares during the period. Penbrook Management LLC’s holdings in Dorchester Minerals were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of DMLP. Kovack Advisors Inc. boosted its holdings in shares of Dorchester Minerals by 7.0% in the 4th quarter. Kovack Advisors Inc. now owns 8,025 shares of the energy company’s stock valued at $255,000 after buying an additional 525 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Dorchester Minerals by 240.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,068 shares of the energy company’s stock valued at $34,000 after purchasing an additional 754 shares during the period. Mather Group LLC. acquired a new stake in Dorchester Minerals in the 1st quarter valued at about $25,000. Towerpoint Wealth LLC grew its holdings in Dorchester Minerals by 3.0% during the fourth quarter. Towerpoint Wealth LLC now owns 29,434 shares of the energy company’s stock worth $937,000 after purchasing an additional 847 shares during the period. Finally, Alps Advisors Inc. increased its position in Dorchester Minerals by 8.5% during the third quarter. Alps Advisors Inc. now owns 11,893 shares of the energy company’s stock worth $345,000 after buying an additional 933 shares during the last quarter. 19.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com lowered Dorchester Minerals from a “buy” rating to a “hold” rating in a report on Monday, May 6th.

Dorchester Minerals Stock Performance

DMLP traded up $0.34 on Tuesday, reaching $31.58. The company had a trading volume of 58,455 shares, compared to its average volume of 72,131. The company’s fifty day moving average is $31.91 and its 200 day moving average is $32.00. The stock has a market cap of $1.27 billion, a P/E ratio of 12.16 and a beta of 1.11. Dorchester Minerals, L.P. has a fifty-two week low of $27.16 and a fifty-two week high of $35.74.

Dorchester Minerals (NASDAQ:DMLP) last released its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.44 earnings per share (EPS) for the quarter. The business had revenue of $30.98 million during the quarter. Dorchester Minerals had a return on equity of 59.35% and a net margin of 66.57%.

Dorchester Minerals Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Monday, April 29th were given a $0.782 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.13 dividend on an annualized basis and a dividend yield of 9.91%. Dorchester Minerals’s payout ratio is 121.79%.

Insider Activity

In other news, CEO Bradley J. Ehrman purchased 2,800 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was bought at an average price of $29.50 per share, with a total value of $82,600.00. Following the acquisition, the chief executive officer now owns 102,737 shares in the company, valued at approximately $3,030,741.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dorchester Minerals news, CEO Bradley J. Ehrman purchased 2,800 shares of the stock in a transaction dated Monday, June 17th. The stock was bought at an average price of $29.50 per share, with a total value of $82,600.00. Following the acquisition, the chief executive officer now owns 102,737 shares of the company’s stock, valued at $3,030,741.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Minerals Operating Dorchester acquired 6,000 shares of Dorchester Minerals stock in a transaction that occurred on Tuesday, May 21st. The stock was acquired at an average cost of $31.88 per share, for a total transaction of $191,280.00. Following the completion of the purchase, the insider now directly owns 54,574 shares of the company’s stock, valued at $1,739,819.12. The disclosure for this purchase can be found here. In the last three months, insiders purchased 11,230 shares of company stock worth $351,008. 7.10% of the stock is currently owned by company insiders.

Dorchester Minerals Profile

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.