HighTower Advisors LLC Buys 15,860 Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP)

HighTower Advisors LLC lifted its holdings in shares of Dorchester Minerals, L.P. (NASDAQ:DMLP - Free Report) by 137.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,375 shares of the energy company's stock after purchasing an additional 15,860 shares during the period. HighTower Advisors LLC owned 0.06% of Dorchester Minerals worth $912,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DMLP. Raymond James Financial Inc. acquired a new stake in shares of Dorchester Minerals in the 4th quarter valued at about $783,000. Fisher Asset Management LLC bought a new position in Dorchester Minerals in the fourth quarter worth approximately $650,000. GraniteShares Advisors LLC grew its stake in Dorchester Minerals by 1.0% in the fourth quarter. GraniteShares Advisors LLC now owns 73,272 shares of the energy company's stock valued at $2,442,000 after acquiring an additional 743 shares during the period. Canton Hathaway LLC bought a new stake in shares of Dorchester Minerals during the fourth quarter valued at approximately $616,000. Finally, Capital Advisory Group Advisory Services LLC acquired a new position in shares of Dorchester Minerals during the fourth quarter worth approximately $837,000. 19.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Dorchester Minerals from a "buy" rating to a "hold" rating in a research report on Monday, February 24th.

Remove Ads

Dorchester Minerals Price Performance

Shares of NASDAQ DMLP traded up $0.04 during mid-day trading on Monday, reaching $30.08. 49,597 shares of the company's stock traded hands, compared to its average volume of 92,531. Dorchester Minerals, L.P. has a 1-year low of $28.25 and a 1-year high of $35.74. The stock has a market cap of $1.42 billion, a P/E ratio of 14.19 and a beta of 1.08. The business has a 50-day simple moving average of $30.91 and a 200 day simple moving average of $31.95.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $0.24 earnings per share (EPS) for the quarter. Dorchester Minerals had a return on equity of 36.86% and a net margin of 56.77%. The business had revenue of $39.71 million during the quarter.

Dorchester Minerals Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 3rd were given a $0.7394 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 9.83%. The ex-dividend date of this dividend was Monday, February 3rd. Dorchester Minerals's payout ratio is currently 139.15%.

Insider Buying and Selling at Dorchester Minerals

In other news, CEO Bradley J. Ehrman bought 3,356 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $29.80 per share, for a total transaction of $100,008.80. Following the completion of the acquisition, the chief executive officer now directly owns 117,710 shares in the company, valued at approximately $3,507,758. This trade represents a 2.93 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Minerals Operating Dorchester purchased 6,500 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average cost of $30.90 per share, for a total transaction of $200,850.00. Following the completion of the transaction, the insider now directly owns 47,682 shares of the company's stock, valued at $1,473,373.80. This represents a 15.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 17,691 shares of company stock worth $548,939. Corporate insiders own 5.90% of the company's stock.

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.