Magnolia Capital Advisors LLC Buys New Shares in Dorchester Minerals, L.P. (NASDAQ:DMLP)

Magnolia Capital Advisors LLC bought a new stake in shares of Dorchester Minerals, L.P. (NASDAQ:DMLP) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 15,637 shares of the energy company’s stock, valued at approximately $482,000.

Several other large investors have also recently bought and sold shares of DMLP. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Dorchester Minerals in the 1st quarter valued at $15,347,000. Greenwich Investment Management Inc. raised its stake in shares of Dorchester Minerals by 7.5% in the 4th quarter. Greenwich Investment Management Inc. now owns 532,089 shares of the energy company’s stock valued at $16,936,000 after buying an additional 36,965 shares in the last quarter. Freestone Capital Holdings LLC raised its stake in shares of Dorchester Minerals by 182.5% in 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 in the last quarter. Howland Capital Management LLC acquired a new position in shares of Dorchester Minerals in the 1st quarter valued at $346,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Dorchester Minerals in the 2nd quarter valued at $308,000. 19.21% of the stock is currently owned by institutional investors and hedge funds.

Dorchester Minerals Stock Performance

DMLP opened at $30.15 on Tuesday. The firm’s 50-day simple moving average is $30.30 and its 200-day simple moving average is $31.73. Dorchester Minerals, L.P. has a twelve month low of $27.16 and a twelve month high of $35.74. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 11.73 and a beta of 1.10.

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

Dorchester Minerals Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Monday, July 29th were issued a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a yield of 9.31%. The ex-dividend date of this dividend was Monday, July 29th. Dorchester Minerals’s dividend payout ratio is currently 108.95%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Dorchester Minerals from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

Insiders Place Their Bets

In related news, insider Minerals Operating Dorchester acquired 2,900 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were purchased at an average price of $32.23 per share, with a total value of $93,467.00. Following the acquisition, the insider now directly owns 66,352 shares in the company, valued at $2,138,524.96. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.10% 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.