Dorchester Minerals, L.P. (NASDAQ:DMLP) Short Interest Up 13.4% in October

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

Dorchester Minerals Price Performance

NASDAQ DMLP traded up $0.10 during mid-day trading on Monday, hitting $33.19. The stock had a trading volume of 20,027 shares, compared to its average volume of 68,471. The firm’s 50 day moving average is $31.47 and its 200 day moving average is $31.32. Dorchester Minerals has a twelve month low of $27.90 and a twelve month high of $35.74. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 11.95 and a beta of 1.09.

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

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 an increase from Dorchester Minerals’s previous quarterly dividend of $0.70. This represents a $3.98 annualized dividend and a yield of 12.00%. The ex-dividend date was Monday, October 28th. Dorchester Minerals’s dividend payout ratio is currently 143.17%.

Insider Transactions at Dorchester Minerals

In other Dorchester Minerals news, CFO Leslie A. Moriyama bought 3,218 shares of Dorchester Minerals stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $32.60 per share, with a total value of $104,906.80. Following the purchase, the chief financial officer now directly owns 71,400 shares in the company, valued at $2,327,640. This represents a 4.72 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DMLP. HWG Holdings LP purchased a new stake in Dorchester Minerals in the 2nd quarter valued at $30,000. Perkins Coie Trust Co purchased a new stake in Dorchester Minerals in the 2nd quarter valued at $31,000. BNP Paribas Financial Markets purchased a new stake in Dorchester Minerals in the 1st quarter valued at $110,000. LGT Financial Advisors LLC purchased a new stake in Dorchester Minerals in the 3rd quarter valued at $166,000. Finally, Atomi Financial Group Inc. grew its holdings in Dorchester Minerals by 7.3% in the 2nd quarter. Atomi Financial Group Inc. now owns 6,743 shares of the energy company’s stock valued at $208,000 after buying an additional 459 shares in the last quarter. 19.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.