Dorchester Minerals (NASDAQ:DMLP) Shares Gap Down - Here's Why

Dorchester Minerals, L.P. (NASDAQ:DMLP - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $32.59, but opened at $31.19. Dorchester Minerals shares last traded at $31.15, with a volume of 32,082 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Dorchester Minerals from a "hold" rating to a "buy" rating in a research note on Monday, August 5th.

Dorchester Minerals Trading Down 3.4 %

The company's 50-day moving average is $30.87 and its 200-day moving average is $31.46. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 12.25 and a beta of 1.10.

Dorchester Minerals (NASDAQ:DMLP - Get Free Report) last issued its earnings results on Thursday, August 1st. The energy company reported $0.57 earnings per share for the quarter. Dorchester Minerals had a return on equity of 59.40% and a net margin of 66.16%. The firm had revenue of $37.36 million for the quarter.

Dorchester Minerals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Monday, October 28th will be given a $0.996 dividend. This represents a $3.98 dividend on an annualized basis and a yield of 12.66%. The ex-dividend date is Monday, October 28th. This is a boost from Dorchester Minerals's previous quarterly dividend of $0.70. Dorchester Minerals's payout ratio is currently 154.86%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DMLP. Requisite Capital Management LLC increased its position in Dorchester Minerals by 12.9% during the 1st quarter. Requisite Capital Management LLC now owns 31,600 shares of the energy company's stock worth $1,066,000 after purchasing an additional 3,600 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Dorchester Minerals by 2.2% during the first quarter. Commonwealth Equity Services LLC now owns 23,114 shares of the energy company's stock valued at $779,000 after purchasing an additional 505 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Dorchester Minerals during the first quarter worth about $15,347,000. BNP Paribas Financial Markets acquired a new position in shares of Dorchester Minerals in the first quarter valued at approximately $110,000. Finally, Howland Capital Management LLC acquired a new stake in Dorchester Minerals during the 1st quarter worth approximately $346,000. Institutional investors own 19.21% of the company's stock.

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.