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DMLP

Dorchester Minerals NasdaqGS:DMLP Stock Report

Last Price

US$23.48

Market Cap

US$913.3m

7D

-6.1%

1Y

40.9%

Updated

06 Jul, 2022

Data

Company Financials
DMLP fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance6/6
Financial Health6/6
Dividends4/6

DMLP Stock Overview

Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of producing and nonproducing natural gas and crude oil royalty, net profit, and leasehold interests in the United States.

Dorchester Minerals Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Dorchester Minerals
Historical stock prices
Current Share PriceUS$23.48
52 Week HighUS$32.61
52 Week LowUS$15.50
Beta1.06
1 Month Change-25.76%
3 Month Change-10.18%
1 Year Change40.85%
3 Year Change25.23%
5 Year Change52.96%
Change since IPO46.75%

Recent News & Updates

May 23

Ultimate Inflation Protection 10% Yield: Dorchester Minerals

We bring to you a pure royalty investment that Warren Buffett would approve of. Global dependence on hydrocarbons is growing, and prices will remain elevated for 12-18 months. Mineral royalties will let you sit back and collect fees from soaring commodity prices, ~10% yields.

Shareholder Returns

DMLPUS Oil and GasUS Market
7D-6.1%-6.3%0.7%
1Y40.9%27.3%-18.4%

Return vs Industry: DMLP exceeded the US Oil and Gas industry which returned 27.3% over the past year.

Return vs Market: DMLP exceeded the US Market which returned -18.4% over the past year.

Price Volatility

Is DMLP's price volatile compared to industry and market?
DMLP volatility
DMLP Average Weekly Movement8.0%
Oil and Gas Industry Average Movement9.1%
Market Average Movement8.2%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market3.4%

Stable Share Price: DMLP is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: DMLP's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1982n/aWilliam McManeminhttps://www.dmlp.net

Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of producing and nonproducing natural gas and crude oil royalty, net profit, and leasehold interests in the United States. Its royalty properties consist of producing and nonproducing mineral, royalty, and overriding royalty interests located in 582 counties and parishes in 26 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership. Dorchester Minerals Management LP serves as the general partner of Dorchester Minerals, L.P.

Dorchester Minerals Fundamentals Summary

How do Dorchester Minerals's earnings and revenue compare to its market cap?
DMLP fundamental statistics
Market CapUS$913.33m
Earnings (TTM)US$85.96m
Revenue (TTM)US$112.37m

10.3x

P/E Ratio

7.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
DMLP income statement (TTM)
RevenueUS$112.37m
Cost of RevenueUS$5.68m
Gross ProfitUS$106.69m
Other ExpensesUS$20.73m
EarningsUS$85.96m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.29
Gross Margin94.95%
Net Profit Margin76.50%
Debt/Equity Ratio0%

How did DMLP perform over the long term?

See historical performance and comparison

Dividends

8.2%

Current Dividend Yield

99%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is DMLP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DMLP?

Other financial metrics that can be useful for relative valuation.

DMLP key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue7.9x
Enterprise Value/EBITDA8.7x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does DMLP's PE Ratio compare to its peers?

DMLP PE Ratio vs Peers
The above table shows the PE ratio for DMLP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.2x
SBR Sabine Royalty Trust
11.5xn/aUS$846.6m
GPRK GeoPark
6.9x-9.3%US$702.8m
ROCC Ranger Oil
14.5x10.0%US$1.3b
LPI Laredo Petroleum
8.1x29.5%US$1.1b
DMLP Dorchester Minerals
10.3xn/aUS$913.3m

Price-To-Earnings vs Peers: DMLP is expensive based on its Price-To-Earnings Ratio (10.3x) compared to the peer average (10.2x).


Price to Earnings Ratio vs Industry

How does DMLP's PE Ratio compare vs other companies in the US Oil and Gas Industry?

Price-To-Earnings vs Industry: DMLP is good value based on its Price-To-Earnings Ratio (10.3x) compared to the US Oil and Gas industry average (11.3x)


Price to Earnings Ratio vs Fair Ratio

What is DMLP's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DMLP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate DMLP's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of DMLP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DMLP ($23.48) is trading below our estimate of fair value ($65.92)

Significantly Below Fair Value: DMLP is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate DMLP's PEG Ratio to determine if it is good value.


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Future Growth

How is Dorchester Minerals forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-8.0%

Forecasted Energy industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Dorchester Minerals has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Examine whether Dorchester Minerals is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has Dorchester Minerals performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


8.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: DMLP has high quality earnings.

Growing Profit Margin: DMLP's current net profit margins (76.5%) are higher than last year (50.7%).


Past Earnings Growth Analysis

Earnings Trend: DMLP's earnings have grown by 8.7% per year over the past 5 years.

Accelerating Growth: DMLP's earnings growth over the past year (257.5%) exceeds its 5-year average (8.7% per year).

Earnings vs Industry: DMLP earnings growth over the past year (257.5%) exceeded the Oil and Gas industry 102.2%.


Return on Equity

High ROE: DMLP's Return on Equity (54.5%) is considered outstanding.


Discover strong past performing companies

Financial Health

How is Dorchester Minerals's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: DMLP's short term assets ($58.6M) exceed its short term liabilities ($3.2M).

Long Term Liabilities: DMLP's short term assets ($58.6M) exceed its long term liabilities ($1.5M).


Debt to Equity History and Analysis

Debt Level: DMLP is debt free.

Reducing Debt: DMLP has not had any debt for past 5 years.

Debt Coverage: DMLP has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: DMLP has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Dorchester Minerals's current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


8.22%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: DMLP's dividend (8.22%) is higher than the bottom 25% of dividend payers in the US market (1.61%).

High Dividend: DMLP's dividend (8.22%) is in the top 25% of dividend payers in the US market (4.27%)


Stability and Growth of Payments

Stable Dividend: DMLP's dividend payments have been volatile in the past 10 years.

Growing Dividend: DMLP's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (98.7%), DMLP's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (82.2%), DMLP's dividend payments are covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

7.2yrs

Average management tenure


CEO

William McManemin (61 yo)

21.5yrs

Tenure

US$115,200

Compensation

Mr. William Casey McManemin serves as the Chief Executive Officer of Dorchester Minerals LP and has been its Chairman of Dorchester Minerals Management GP LLC., a General Partner of Dorchester Minerals LP...


CEO Compensation Analysis

Compensation vs Market: William's total compensation ($USD115.20K) is below average for companies of similar size in the US market ($USD4.09M).

Compensation vs Earnings: William's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: DMLP's management team is seasoned and experienced (7.2 years average tenure).


Board Members

Experienced Board: DMLP's board of directors are seasoned and experienced ( 19.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: DMLP insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.1%.


Top Shareholders

Company Information

Dorchester Minerals, L.P.'s employee growth, exchange listings and data sources


Key Information

  • Name: Dorchester Minerals, L.P.
  • Ticker: DMLP
  • Exchange: NasdaqGS
  • Founded: 1982
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Implied Market Cap: US$913.332m
  • Shares outstanding: 37.55m
  • Website: https://www.dmlp.net

Location

  • Dorchester Minerals, L.P.
  • 3838 Oak Lawn Avenue
  • Suite 300
  • Dallas
  • Texas
  • 75219-4541
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/06 00:00
End of Day Share Price2022/07/06 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.