Dorchester Minerals, L.P. (NASDAQ:DMLP) CEO Bradley J. Ehrman Buys 2,800 Shares of Stock

Dorchester Minerals, L.P. (NASDAQ:DMLP) CEO Bradley J. Ehrman purchased 2,800 shares of the stock in a transaction on Monday, June 17th. The shares were bought at an average price of $29.50 per share, for a total transaction 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 document filed with the SEC, which is available at the SEC website.

Dorchester Minerals Stock Performance

Shares of NASDAQ:DMLP opened at $30.63 on Wednesday. Dorchester Minerals, L.P. has a 52-week low of $27.16 and a 52-week high of $35.74. The company has a market cap of $1.23 billion, a P/E ratio of 11.92 and a beta of 1.10. The stock’s 50-day moving average is $32.46 and its 200-day moving average is $31.95.

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

Dorchester Minerals Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Monday, April 29th were given a dividend of $0.782 per share. This represents a $3.13 dividend on an annualized basis and a yield of 10.21%. The ex-dividend date of this dividend was Friday, April 26th. Dorchester Minerals’s dividend payout ratio (DPR) is currently 121.79%.

Institutional Trading of Dorchester Minerals

A number of hedge funds have recently bought and sold shares of DMLP. Mather Group LLC. bought a new position in shares of Dorchester Minerals during the 1st quarter worth about $25,000. Tower Research Capital LLC TRC increased its stake in Dorchester Minerals by 240.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,068 shares of the energy company’s stock valued at $34,000 after acquiring an additional 754 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in Dorchester Minerals in the 1st quarter valued at approximately $34,000. TCTC Holdings LLC acquired a new position in Dorchester Minerals in the 1st quarter valued at approximately $67,000. Finally, Citigroup Inc. lifted its position in shares of Dorchester Minerals by 4,306.7% in the 3rd quarter. Citigroup Inc. now owns 2,644 shares of the energy company’s stock worth $77,000 after acquiring an additional 2,584 shares during the period. 19.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Dorchester Minerals Company 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.