Everett Harris & Co. CA Sells 3,991 Shares of Dorchester Minerals, L.P. (NASDAQ:DMLP)

Everett Harris & Co. CA lowered its position in shares of Dorchester Minerals, L.P. (NASDAQ:DMLP) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,109 shares of the energy company’s stock after selling 3,991 shares during the quarter. Everett Harris & Co. CA owned 0.21% of Dorchester Minerals worth $2,506,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Dorchester Minerals during the first quarter valued at $15,347,000. Freestone Capital Holdings LLC increased its stake in shares of Dorchester Minerals by 182.5% during the first 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 during the period. Magnolia Capital Advisors LLC purchased a new position in Dorchester Minerals during the 2nd quarter valued at about $482,000. Howland Capital Management LLC bought a new position in Dorchester Minerals in the first quarter worth approximately $346,000. Finally, Hsbc Holdings PLC bought a new position in shares of Dorchester Minerals in the 2nd quarter worth $308,000. 19.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Dorchester Minerals Stock Up 3.4 %

Shares of DMLP opened at $32.92 on Friday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 12.81 and a beta of 1.10. Dorchester Minerals, L.P. has a 52 week low of $27.16 and a 52 week high of $35.74. The stock’s 50-day moving average price is $30.68 and its 200-day moving average price is $31.55.

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

Dorchester Minerals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Monday, October 28th will be paid a $0.996 dividend. The ex-dividend date of this dividend is Monday, October 28th. This is an increase from Dorchester Minerals’s previous quarterly dividend of $0.70. This represents a $3.98 dividend on an annualized basis and a dividend yield of 12.10%. Dorchester Minerals’s dividend payout ratio (DPR) is 154.86%.

Dorchester Minerals Profile

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.