MidFirst Bank Purchases New Holdings in Dorchester Minerals, L.P. $DMLP

by · The Cerbat Gem

MidFirst Bank purchased a new stake in Dorchester Minerals, L.P. (NASDAQ:DMLPFree Report) in the fourth quarter, HoldingsChannel reports. The firm purchased 494,153 shares of the energy company’s stock, valued at approximately $11,049,000. Dorchester Minerals accounts for approximately 0.9% of MidFirst Bank’s investment portfolio, making the stock its 23rd biggest position.

Several other institutional investors have also recently bought and sold shares of DMLP. Geneos Wealth Management Inc. boosted its position in Dorchester Minerals by 59.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company’s stock valued at $35,000 after buying an additional 440 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in shares of Dorchester Minerals during the fourth quarter worth $36,000. EverSource Wealth Advisors LLC raised its position in shares of Dorchester Minerals by 4,918.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,061 shares of the energy company’s stock worth $68,000 after acquiring an additional 3,000 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Dorchester Minerals during the fourth quarter valued at $68,000. Finally, Osaic Holdings Inc. lifted its stake in shares of Dorchester Minerals by 14.1% during the second quarter. Osaic Holdings Inc. now owns 3,748 shares of the energy company’s stock valued at $104,000 after acquiring an additional 463 shares during the period. Institutional investors own 19.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DMLP. Weiss Ratings upgraded shares of Dorchester Minerals from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 27th. Wall Street Zen upgraded shares of Dorchester Minerals from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Read Our Latest Research Report on DMLP

Dorchester Minerals Stock Performance

NASDAQ:DMLP opened at $25.09 on Friday. Dorchester Minerals, L.P. has a 52-week low of $20.85 and a 52-week high of $28.95. The company has a market cap of $1.21 billion, a P/E ratio of 18.05 and a beta of 0.54. The stock’s 50-day simple moving average is $27.45 and its 200 day simple moving average is $25.68.

Dorchester Minerals (NASDAQ:DMLPGet Free Report) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.59 earnings per share for the quarter. Dorchester Minerals had a net margin of 40.85% and a return on equity of 22.11%. The company had revenue of $58.88 million for the quarter.

Dorchester Minerals Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 4th were paid a $0.475 dividend. The ex-dividend date was Monday, May 4th. This represents a $1.90 annualized dividend and a yield of 7.6%. Dorchester Minerals’s payout ratio is 136.69%.

Insiders Place Their Bets

In other Dorchester Minerals news, CEO Bradley J. Ehrman purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average cost of $26.78 per share, for a total transaction of $107,120.00. Following the completion of the purchase, the chief executive officer owned 142,723 shares of the company’s stock, valued at approximately $3,822,121.94. The trade was a 2.88% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Minerals Operating Dorchester bought 7,500 shares of the stock in a transaction dated Monday, June 1st. The shares were acquired at an average cost of $27.56 per share, for a total transaction of $206,700.00. Following the completion of the acquisition, the insider directly owned 70,017 shares of the company’s stock, valued at approximately $1,929,668.52. This trade represents a 12.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders acquired 19,000 shares of company stock worth $526,070. Insiders own 5.90% of the company’s stock.

Dorchester Minerals Profile

(Free Report)

Dorchester Minerals, L.P. (NASDAQ: DMLP) is a publicly traded master limited partnership that acquires, owns and manages mineral and royalty interests in oil and natural gas properties. The company holds net revenue interests on producing and non-producing wells, entitling it to a share of production proceeds without bearing the costs or operating responsibilities associated with exploration and development activities. Through strategic acquisitions and joint-venture arrangements, Dorchester Minerals builds a diversified portfolio of royalty assets across multiple U.S.

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