Dorchester Minerals
Market Cap
US$512.2m
Last Updated
2021/02/26 00:07 UTC
Data Sources
Company Financials
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. More Details
Rewards
Risk Analysis
Snowflake Analysis
Flawless balance sheet with acceptable track record.
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 is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: DMLP's weekly volatility (6%) has been stable over the past year.
Market Performance
7 Day Return
6.6%
DMLP
7.3%
US Oil and Gas
-3.2%
US Market
1 Year Return
-3.6%
DMLP
9.1%
US Oil and Gas
38.9%
US Market
Return vs Industry: DMLP underperformed the US Oil and Gas industry which returned 28.5% over the past year.
Return vs Market: DMLP underperformed the US Market which returned 37.1% over the past year.
Shareholder returns
| DMLP | Industry | Market | |
|---|---|---|---|
| 7 Day | 6.6% | 7.3% | -3.2% |
| 30 Day | 15.9% | 17.2% | -0.8% |
| 90 Day | 25.7% | 26.4% | 3.1% |
| 1 Year | 7.7%-3.6% | 16.7%9.1% | 42.0%38.9% |
| 3 Year | 30.0%-5.0% | -11.4%-24.0% | 60.6%50.3% |
| 5 Year | 128.3%44.9% | 5.7%-15.2% | 128.0%102.5% |
Long-Term 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
2 years ago | Simply Wall St
The Dorchester Minerals LP (NASDAQ:DMLP) Ownership Structure Could Be Important2 years ago | Simply Wall St
What You Must Know About Dorchester Minerals LP's (NASDAQ:DMLP) ROE2 years ago | Simply Wall St
Dorchester Minerals LP (NASDAQ:DMLP): Commentary On FundamentalsValuation
Is Dorchester Minerals undervalued compared to its fair value and its price relative to the market?
18.94x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: DMLP ($14.77) is trading above our estimate of fair value ($14.67)
Significantly Below Fair Value: DMLP is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: DMLP is poor value based on its PE Ratio (18.9x) compared to the US Oil and Gas industry average (9.9x).
PE vs Market: DMLP is good value based on its PE Ratio (18.9x) compared to the US market (21.7x).
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 (5.7x) compared to the US Oil and Gas industry average (1.4x).
Next Steps
Future Growth
How is Dorchester Minerals forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
53.3%
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.
Next Steps
- Examine Dorchester Minerals's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
- Explore growth companies in the Energy industry.
Past Performance
How has Dorchester Minerals performed over the past 5 years?
22.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: DMLP has high quality earnings.
Growing Profit Margin: DMLP's current net profit margins (52.6%) are lower than last year (70.7%).
Past Earnings Growth Analysis
Earnings Trend: DMLP's earnings have grown significantly by 22% per year over the past 5 years.
Accelerating Growth: DMLP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: DMLP had negative earnings growth (-51.4%) over the past year, making it difficult to compare to the Oil and Gas industry average (-32.7%).
Return on Equity
High ROE: DMLP's Return on Equity (31%) is considered high.
Next Steps
Financial Health
How is Dorchester Minerals's financial position?
Financial Position Analysis
Short Term Liabilities: DMLP's short term assets ($21.3M) exceed its short term liabilities ($2.8M).
Long Term Liabilities: DMLP's short term assets ($21.3M) exceed its long term liabilities ($2.0M).
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
Next Steps
Dividend
What is Dorchester Minerals's current dividend yield, its reliability and sustainability?
8.61%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: DMLP's dividend (8.61%) is higher than the bottom 25% of dividend payers in the US market (1.33%).
High Dividend: DMLP's dividend (8.61%) is in the top 25% of dividend payers in the US market (3.7%)
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 (178.4%), 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.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.8yrs
Average management tenure
CEO
William McManemin (59 yo)
20.08yrs
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 ($USD1.48M).
Compensation vs Earnings: William's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 20.08yrs | US$115.20k | 3.46% $ 17.7m | |
| Chief Financial Officer | 5.75yrs | US$389.42k | 0.072% $ 368.6k | |
| Chief Operating Officer | 5.75yrs | US$428.54k | 0.22% $ 1.1m | |
| Investor Relations Manager | no data | no data | no data | |
| Controller | 5.75yrs | no data | no data |
5.8yrs
Average Tenure
43yo
Average Age
Experienced Management: DMLP's management team is seasoned and experienced (5.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 20.08yrs | US$115.20k | 3.46% $ 17.7m | |
| Vice Chairman of the Board | 5.75yrs | US$115.20k | 0.093% $ 476.4k | |
| Manager of Dorchester Minerals Management GP LLC | 20.08yrs | US$103.21k | 0.71% $ 3.6m | |
| Independent Manager of Dorchester Minerals Management GP LLC | 20.08yrs | no data | 1.49% $ 7.6m | |
| Independent Manager of Dorchester Minerals Management GP LLC | 16.75yrs | US$35.00k | 0.037% $ 188.2k | |
| Independent Manager of Dorchester Minerals Management GP LLC | 13yrs | US$35.00k | 0.050% $ 257.7k | |
| Independent Manager of Dorchester Minerals Management GP LLC | 7.58yrs | no data | 1.57% $ 8.0m | |
| Independent Manager of Dorchester Minerals Management GP LLC | 3.25yrs | US$35.00k | 0.048% $ 247.2k |
10.3yrs
Average Tenure
74.5yo
Average Age
Experienced Board: DMLP's board of directors are seasoned and experienced ( 10.3 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 not been meaningfully diluted in the past year.
Top Shareholders
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$512.220m
- 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| DMLP | NasdaqGS (Nasdaq Global Select) | Yes | Common Units | US | USD | Feb 2003 |
| 9DM | DB (Deutsche Boerse AG) | Yes | Common Units | DE | EUR | Feb 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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/02/26 00:07 |
| End of Day Share Price | 2021/02/25 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.