Bank of America Corp DE grew its holdings in Dorchester Minerals LP (NASDAQ:DMLP) by 24.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 158,722 shares of the energy company’s stock after buying an additional 31,330 shares during the period. Bank of America Corp DE owned approximately 0.49% of Dorchester Minerals worth $3,269,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Lucas Capital Management grew its stake in shares of Dorchester Minerals by 13.8% in the 2nd quarter. Lucas Capital Management now owns 41,194 shares of the energy company’s stock worth $849,000 after buying an additional 5,000 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Dorchester Minerals by 4.6% in the 2nd quarter. Renaissance Technologies LLC now owns 129,877 shares of the energy company’s stock worth $2,675,000 after buying an additional 5,733 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Dorchester Minerals in the 2nd quarter worth $122,000. Independent Advisor Alliance lifted its holdings in shares of Dorchester Minerals by 14.5% in the 2nd quarter. Independent Advisor Alliance now owns 51,462 shares of the energy company’s stock worth $1,060,000 after acquiring an additional 6,515 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Dorchester Minerals in the 2nd quarter worth about $325,000. 17.80% of the stock is owned by institutional investors and hedge funds.
Separately, BidaskClub upgraded shares of Dorchester Minerals from a “sell” rating to a “hold” rating in a report on Thursday, September 27th.
Dorchester Minerals stock opened at $17.81 on Friday. The stock has a market capitalization of $574.91 million, a PE ratio of 11.72 and a beta of 0.77. Dorchester Minerals LP has a 12-month low of $14.40 and a 12-month high of $21.15.
Dorchester Minerals (NASDAQ:DMLP) last released its earnings results on Monday, August 6th. The energy company reported $0.49 earnings per share (EPS) for the quarter. The firm had revenue of $21.12 million during the quarter. Dorchester Minerals had a net margin of 72.13% and a return on equity of 56.34%.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Monday, October 29th will be issued a $0.3948 dividend. The ex-dividend date of this dividend is Friday, October 26th. This represents a $1.58 annualized dividend and a dividend yield of 8.87%.
In other news, COO Bradley J. Ehrman bought 2,747 shares of the stock in a transaction dated Monday, August 13th. The stock was purchased at an average price of $18.98 per share, for a total transaction of $52,138.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.80% of the stock is currently owned by company insiders.
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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