Dorchester Minerals LP (NASDAQ:DMLP) saw a significant drop in short interest in June. As of June 30th, there was short interest totalling 88,900 shares, a drop of 12.8% from the May 30th total of 101,900 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 44,500 shares, the days-to-cover ratio is currently 2.0 days.
Dorchester Minerals stock traded up $0.31 during mid-day trading on Friday, reaching $19.20. 60,404 shares of the company’s stock were exchanged, compared to its average volume of 33,503. The business has a fifty day simple moving average of $18.44. The company has a market capitalization of $655.10 million, a price-to-earnings ratio of 11.11 and a beta of 0.97. 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.
Dorchester Minerals (NASDAQ:DMLP) last issued its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.42 EPS for the quarter. The business had revenue of $19.03 million for the quarter. Dorchester Minerals had a return on equity of 58.74% and a net margin of 74.48%.
Separately, BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday.
In other Dorchester Minerals news, insider Minerals Operating Dorchester purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $18.59 per share, for a total transaction of $185,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Bradley J. Ehrman purchased 5,773 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $18.89 per share, for a total transaction of $109,051.97. The disclosure for this purchase can be found here. Insiders bought 23,940 shares of company stock worth $445,313 in the last 90 days. Corporate insiders own 9.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of DMLP. Advisor Group Inc. lifted its holdings in Dorchester Minerals by 694.0% during the fourth quarter. Advisor Group Inc. now owns 4,780 shares of the energy company’s stock worth $70,000 after acquiring an additional 4,178 shares during the period. Hsbc Holdings PLC purchased a new stake in Dorchester Minerals in the fourth quarter worth $206,000. Geode Capital Management LLC increased its position 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 buying an additional 4,943 shares during the last quarter. Barclays PLC increased its position 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 buying an additional 11,912 shares during the last quarter. Finally, Howard Financial Services LTD. purchased a new stake in Dorchester Minerals in the fourth quarter worth $252,000. Institutional investors and hedge funds own 16.71% of the company’s stock.
Dorchester Minerals Company Profile
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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