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

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

Insider Activity at Dorchester Minerals

In other news, insider Minerals Operating Dorchester purchased 2,900 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were acquired at an average price of $32.23 per share, for a total transaction of $93,467.00. Following the completion of the acquisition, the insider now directly owns 66,352 shares in the company, valued at $2,138,524.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dorchester Minerals

Institutional investors have recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC lifted its holdings in shares of Dorchester Minerals by 99.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 34,969 shares of the energy company’s stock worth $1,113,000 after acquiring an additional 17,415 shares during the last quarter. ING Groep NV grew its position in shares of Dorchester Minerals by 36.0% during the 4th quarter. ING Groep NV now owns 121,000 shares of the energy company’s stock worth $3,851,000 after buying an additional 32,000 shares during the period. Greenwich Investment Management Inc. grew its position in shares of Dorchester Minerals by 7.5% during the 4th quarter. Greenwich Investment Management Inc. now owns 532,089 shares of the energy company’s stock worth $16,936,000 after buying an additional 36,965 shares during the period. Mather Group LLC. acquired a new stake in shares of Dorchester Minerals during the 1st quarter worth approximately $25,000. Finally, Inscription Capital LLC grew its position in shares of Dorchester Minerals by 20.9% during the 1st quarter. Inscription Capital LLC now owns 40,500 shares of the energy company’s stock worth $1,394,000 after buying an additional 7,000 shares during the period. 19.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Dorchester Minerals Trading Up 0.4 %

Shares of NASDAQ:DMLP traded up $0.12 during trading on Wednesday, hitting $30.90. 2,470 shares of the company’s stock traded hands, compared to its average volume of 68,211. Dorchester Minerals has a 52 week low of $27.16 and a 52 week high of $35.74. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 11.98 and a beta of 1.10. The company has a 50-day moving average price of $30.65 and a 200-day moving average price of $31.81.

Dorchester Minerals (NASDAQ:DMLP) last announced its earnings results on Thursday, August 1st. The energy company reported $0.57 earnings per share (EPS) for the quarter. Dorchester Minerals had a return on equity of 59.40% and a net margin of 66.16%. The business had revenue of $37.36 million for 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 given a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 9.09%. The ex-dividend date was Monday, July 29th. Dorchester Minerals’s dividend payout ratio is presently 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.