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

Dorchester Minerals, L.P. (NASDAQ:DMLP) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 478,600 shares, a growth of 13.4% from the October 15th total of 422,200 shares. Based on an average trading volume of 64,400 shares, the days-to-cover ratio is currently 7.4 days. Approximately 1.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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 %

NASDAQ DMLP traded up $0.14 during trading on Monday, hitting $33.23. 15,201 shares of the company’s stock were exchanged, compared to its average volume of 68,449. Dorchester Minerals has a fifty-two week low of $27.90 and a fifty-two week high of $35.74. The stock’s 50 day moving average price is $31.47 and its two-hundred day moving average price is $31.32. The company has a market cap of $1.57 billion, a PE ratio of 11.90 and a beta of 1.09.

Dorchester Minerals (NASDAQ:DMLP) last issued its earnings results on Thursday, October 31st. The energy company reported $0.87 earnings per share (EPS) for the quarter. The business had revenue of $53.47 million for the quarter. Dorchester Minerals had a net margin of 66.02% and a return on equity of 48.81%.

Dorchester Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Monday, October 28th were paid a $0.996 dividend. This is a boost from Dorchester Minerals’s previous quarterly dividend of $0.70. This represents a $3.98 dividend on an annualized basis and a yield of 11.99%. The ex-dividend date of this dividend was Monday, October 28th. Dorchester Minerals’s payout ratio is currently 143.17%.

Insiders Place Their Bets

In other Dorchester Minerals news, CFO Leslie A. Moriyama bought 3,218 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of $32.60 per share, for a total transaction of $104,906.80. Following the transaction, the chief financial officer now owns 71,400 shares in the company, valued at approximately $2,327,640. This trade represents a 4.72 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Dorchester Minerals

A number of large investors have recently modified their holdings of DMLP. Freestone Capital Holdings LLC raised its holdings in Dorchester Minerals by 182.5% during the 1st quarter. Freestone Capital Holdings LLC now owns 46,619 shares of the energy company’s stock valued at $1,572,000 after buying an additional 30,119 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new stake in shares of Dorchester Minerals during the second quarter valued at $482,000. One Charles Private Wealth Services LLC purchased a new stake in Dorchester Minerals in the third quarter worth approximately $331,000. Hsbc Holdings PLC bought a new stake in shares of Dorchester Minerals during the 2nd quarter valued at about $308,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Dorchester Minerals in the 3rd quarter worth $300,000. 19.21% of the stock is currently owned by institutional investors.

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.