Canton Hathaway LLC Invests $616,000 in Dorchester Minerals, L.P. (NASDAQ:DMLP)

Canton Hathaway LLC bought a new position in Dorchester Minerals, L.P. (NASDAQ:DMLP) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 18,475 shares of the energy company’s stock, valued at approximately $616,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Dorchester Minerals by 62.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,444 shares of the energy company’s stock worth $44,000 after buying an additional 556 shares during the last quarter. LGT Financial Advisors LLC purchased a new position in Dorchester Minerals in the third quarter valued at approximately $166,000. Apollon Wealth Management LLC purchased a new position in Dorchester Minerals in the fourth quarter valued at approximately $228,000. Flagship Harbor Advisors LLC lifted its stake in Dorchester Minerals by 3.6% in the fourth quarter. Flagship Harbor Advisors LLC now owns 8,787 shares of the energy company’s stock valued at $293,000 after purchasing an additional 302 shares during the last quarter. Finally, Principal Street Partners LLC purchased a new position in Dorchester Minerals in the third quarter valued at approximately $291,000. Hedge funds and other institutional investors own 19.21% of the company’s stock.

Analyst Ratings Changes

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

Dorchester Minerals Trading Down 0.5 %

Dorchester Minerals stock opened at $31.06 on Tuesday. Dorchester Minerals, L.P. has a 12 month low of $28.41 and a 12 month high of $35.74. The business’s 50 day simple moving average is $32.53 and its 200 day simple moving average is $32.00. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 14.65 and a beta of 1.07.

Dorchester Minerals (NASDAQ:DMLP) last posted its quarterly earnings data on Thursday, February 20th. The energy company reported $0.24 EPS for the quarter. Dorchester Minerals had a return on equity of 36.86% and a net margin of 56.77%. The business had revenue of $39.71 million for the quarter.

Dorchester Minerals Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.7394 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.96 dividend on an annualized basis and a yield of 9.52%. Dorchester Minerals’s payout ratio is 139.15%.

Insider Buying and Selling at Dorchester Minerals

In other Dorchester Minerals news, insider Minerals Operating Dorchester bought 6,500 shares of the stock in a transaction on Tuesday, February 4th. The shares were acquired at an average price of $30.90 per share, with a total value of $200,850.00. Following the acquisition, the insider now directly owns 47,682 shares of the company’s stock, valued at $1,473,373.80. The trade was a 15.78 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Leslie A. Moriyama purchased 12,050 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was purchased at an average cost of $34.41 per share, for a total transaction of $414,640.50. Following the acquisition, the chief financial officer now owns 83,450 shares of the company’s stock, valued at approximately $2,871,514.50. This trade represents a 16.88 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 52,269 shares of company stock valued at $1,732,575 in the last 90 days. 7.10% of the stock is currently owned by company insiders.

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.