Dorchester Minerals (NASDAQ:DMLP) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Dorchester Minerals (NASDAQ:DMLP) from a sell rating to a hold rating in a research report released on Friday morning, BidAskClub reports.

DMLP opened at $19.25 on Friday. Dorchester Minerals has a one year low of $14.11 and a one year high of $21.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.50 and a quick ratio of 12.50. The firm’s 50 day moving average is $18.46. The company has a market capitalization of $667.24 million, a PE ratio of 11.29 and a beta of 0.97.

Dorchester Minerals (NASDAQ:DMLP) last released its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.42 EPS for the quarter. Dorchester Minerals had a net margin of 74.48% and a return on equity of 58.74%. The business had revenue of $19.03 million for the quarter.

In related news, COO Bradley J. Ehrman purchased 5,773 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were acquired at an average cost of $18.89 per share, with a total value of $109,051.97. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Minerals Operating Dorchester purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were bought at an average cost of $18.59 per share, for a total transaction of $185,900.00. The disclosure for this purchase can be found here. Insiders have bought 23,940 shares of company stock worth $445,313 over the last three months. 9.40% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Advisor Group Inc. grew its holdings in shares of Dorchester Minerals by 694.0% during the 4th quarter. Advisor Group Inc. now owns 4,780 shares of the energy company’s stock valued at $70,000 after acquiring an additional 4,178 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Dorchester Minerals in the fourth quarter worth $206,000. Geode Capital Management LLC boosted its holdings in Dorchester Minerals by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 51,588 shares of the energy company’s stock worth $755,000 after purchasing an additional 4,943 shares in the last quarter. Barclays PLC boosted its holdings in Dorchester Minerals by 120.5% in the fourth quarter. Barclays PLC now owns 21,794 shares of the energy company’s stock worth $319,000 after purchasing an additional 11,912 shares in the last quarter. Finally, Howard Financial Services LTD. bought a new stake in Dorchester Minerals in the fourth quarter worth $252,000. 16.71% of the stock is currently owned by hedge funds and other institutional investors.

About Dorchester Minerals

Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of producing and nonproducing natural gas and crude oil royalty, net profits, and leasehold interests in the United States. The company's royalty properties consist of producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests located in 574 counties and parishes in 25 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership.

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