NasdaqGS:DMLP

Stock Analysis Report

Executive Summary

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.

Snowflake

Rewards


Similar Companies

Share Price & News

How has Dorchester Minerals's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DMLP has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-4.4%

DMLP

-0.2%

US Oil and Gas

-0.2%

US Market


1 Year Return

4.6%

DMLP

-11.8%

US Oil and Gas

16.1%

US Market

Return vs Industry: DMLP exceeded the US Oil and Gas industry which returned -11.8% over the past year.

Return vs Market: DMLP underperformed the US Market which returned 16.1% over the past year.


Shareholder returns

DMLPIndustryMarket
7 Day-4.4%-0.2%-0.2%
30 Day-6.1%0.5%3.7%
90 Day-0.6%6.3%8.5%
1 Year16.6%4.6%-8.6%-11.8%18.7%16.1%
3 Year33.3%1.1%-8.6%-17.0%46.9%37.4%
5 Year-9.7%-39.3%-20.5%-32.1%61.8%44.0%

Price Volatility Vs. Market

How volatile is Dorchester Minerals's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Dorchester Minerals undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: DMLP ($17.13) is trading below our estimate of fair value ($48.58)

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


Price To Earnings Ratio

PE vs Industry: DMLP is poor value based on its PE Ratio (10.3x) compared to the Oil and Gas industry average (9.9x).

PE vs Market: DMLP is good value based on its PE Ratio (10.3x) compared to the US market (18x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: DMLP is overvalued based on its PB Ratio (5.1x) compared to the US Oil and Gas industry average (0.8x).

Future Growth

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

15.6%

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.

Past Performance

How has Dorchester Minerals performed over the past 5 years?

16.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DMLP has high quality earnings.

Growing Profit Margin: DMLP's current net profit margins (72.2%) are higher than last year (71.9%).


Past Earnings Growth Analysis

Earnings Trend: DMLP's earnings have grown by 16.3% per year over the past 5 years.

Accelerating Growth: DMLP's earnings growth over the past year (13.5%) is below its 5-year average (16.3% per year).

Earnings vs Industry: DMLP earnings growth over the past year (13.5%) exceeded the Oil and Gas industry -10.9%.


Return on Equity

High ROE: DMLP's Return on Equity (49%) is considered outstanding.


Return on Assets


Return on Capital Employed

Financial Health

How is Dorchester Minerals's financial position?


Financial Position Analysis

Short Term Liabilities: DMLP's short term assets ($31.9M) exceeds its short term liabilities ($3.8M)

Long Term Liabilities: DMLP's short term assets ($31.9M) exceeds its long term liabilities (2.3M)


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

Inventory Level: DMLP has a high level of physical assets or inventory.

Debt Coverage by Assets: DMLP's debt is not covered by short term assets (assets are -7.1839169456001E+16x debt).

Dividend

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

10.90%

Current Dividend Yield


Dividend Yield vs Market

company10.9%marketbottom25%1.4%markettop25%3.7%industryaverage4.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: DMLP's dividend (10.9%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: DMLP's dividend (10.9%) is in the top 25% of dividend payers in the US market (3.69%)


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 fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (121.2%), DMLP's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

What is the CEO of Dorchester Minerals's salary, the management and board of directors tenure and is there insider trading?

4.5yrs

Average management tenure


CEO

William McManemin (58yo)

18.8yrs

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 ($USD115.20K) is below average for companies of similar size in the US market ($USD1.73M).

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


Management Age and Tenure

4.5yrs

Average Tenure

42yo

Average Age

Experienced Management: DMLP's management team is considered experienced (4.5 years average tenure).


Board Age and Tenure

9.0yrs

Average Tenure

73.5yo

Average Age

Experienced Board: DMLP's board of directors are considered experienced (9 years average tenure).


Insider Trading

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


Recent Insider Transactions

BuyUS$58,40213 Sep 19
H. Allen
EntityIndividual
Role
Member of the Board of Directors
Shares3,220
Max PriceUS$18.30
BuyUS$53,97016 Aug 19
Bradley Ehrman
EntityIndividual
Role
Chief Operating Officer
Chief Operating Officer
Shares3,000
Max PriceUS$17.99
BuyUS$76,79509 Aug 19
H. Allen
EntityIndividual
Role
Member of the Board of Directors
Shares4,470
Max PriceUS$17.18
BuyUS$109,05213 May 19
Bradley Ehrman
EntityIndividual
Role
Chief Operating Officer
Chief Operating Officer
Shares5,773
Max PriceUS$18.89

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.9%.


Management Team

  • William McManemin (58yo)

    Chairman & CEO

    • Tenure: 18.8yrs
    • Compensation: US$115.20k
  • Brad Ehrman (42yo)

    Chief Operating Officer

    • Tenure: 4.5yrs
    • Compensation: US$389.63k
  • Leslie Moriyama (41yo)

    Chief Financial Officer

    • Tenure: 4.5yrs
    • Compensation: US$352.02k
  • Teresa Williams

    Controller

    • Tenure: 4.5yrs
  • Martye Miller

    Investor Relations Manager

    • Tenure: 0yrs

Board Members

  • James Raley (79yo)

    Vice Chairman of the Board

    • Tenure: 4.5yrs
    • Compensation: US$115.20k
  • Pete Allen (80yo)

    • Tenure: 18.8yrs
    • Compensation: US$103.21k
  • William McManemin (58yo)

    Chairman & CEO

    • Tenure: 18.8yrs
    • Compensation: US$115.20k
  • Robert Vaughn (63yo)

    • Tenure: 18.8yrs
  • Bill Russell (77yo)

    • Tenure: 15.5yrs
    • Compensation: US$35.00k
  • Ron Trout (79yo)

    • Tenure: 11.8yrs
    • Compensation: US$35.00k
  • Martha Peak Rochelle (66yo)

    • Tenure: 6.3yrs
  • Allen Lassiter (70yo)

    • Tenure: 2yrs
    • Compensation: US$35.00k

Company Information

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


Key Information

  • Name: Dorchester Minerals, L.P.
  • Ticker: DMLP
  • Exchange: NasdaqGS
  • Founded: 2003
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: US$594.065m
  • Shares outstanding: 34.68m
  • Website: https://www.dmlp.net

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DMLPNasdaqGS (Nasdaq Global Select)YesCommon UnitsUSUSDFeb 2003
9DMDB (Deutsche Boerse AG)YesCommon UnitsDEEURFeb 2003

Biography

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 State ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/21 23:54
End of Day Share Price2019/11/21 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.