DORCHESTER MINERALS, L.P.
DMLP · Crude Petroleum & Natural Gas · 48.3M shares · +3%/yr ↑ shares · EDGAR filings ↗
Reference price $27.64 · est. market cap ~$1.3B — last insider purchase, 2026-06-01 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A86Debt-free oil & gas royalty/mineral partnership with top-decile returns and exceptional liquidity.
Strengths
- ROA 18.5% (100th pct) and current ratio 15.5 (97.5th pct) with a leverage-prohibited, conservative structure
- Diversified royalty interests across 594 counties in 28 states fund 100%-of-available-cash distributions
Risks
- Net income fell ~38% with cash flows directly exposed to volatile oil and natural gas prices
- No control over operators' development decisions; reserves are depleting assets
Notable findings
Key metrics
Return on assets
18.5%
Net-income growth
-38.0%
Current ratio
15.5×
Cash & investments
$42M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-01 | DORCHESTER MINERALS OPERATING LP | Buy | 999 | $27.62 |
| 2026-06-01 | DORCHESTER MINERALS OPERATING LP | Buy | 4.0K | $27.50 |
| 2026-06-01 | DORCHESTER MINERALS OPERATING LP | Buy | 2.5K | $27.64 |
| 2026-05-20 | DORCHESTER MINERALS OPERATING LP | Buy | 1.5K | $28.24 |
| 2026-05-20 | DORCHESTER MINERALS OPERATING LP | Buy | 6.0K | $28.32 |
| 2026-05-12 | EHRMAN BRADLEY J | Buy | 4.0K | $26.78 |
| 2026-02-13 | DORCHESTER MINERALS OPERATING LP | Buy | 5.0K | $25.29 |
| 2026-02-12 | DORCHESTER MINERALS OPERATING LP | Buy | 5.0K | $25.08 |
| 2026-02-11 | DORCHESTER MINERALS OPERATING LP | Buy | 10K | $25.29 |
| 2025-12-22 | DORCHESTER MINERALS OPERATING LP | Buy | 10K | $22.30 |
| 2025-12-19 | DORCHESTER MINERALS OPERATING LP | Buy | 5.0K | $22.23 |
| 2025-12-18 | DORCHESTER MINERALS OPERATING LP | Buy | 16K | $22.28 |
| 2025-12-17 | DORCHESTER MINERALS OPERATING LP | Buy | 4.3K | $22.19 |
| 2025-12-15 | MORIYAMA LESLIE A | Option exercise | 4.4K | — |
| 2025-12-15 | MORIYAMA LESLIE A | Tax withheld | 1.8K | — |
| 2025-12-15 | EHRMAN BRADLEY J | Option exercise | 4.7K | — |
| 2025-12-15 | EHRMAN BRADLEY J | Tax withheld | 1.7K | — |
| 2025-12-03 | EHRMAN BRADLEY J | Option exercise | 4.8K | — |
| 2025-12-03 | MORIYAMA LESLIE A | Option exercise | 4.0K | — |
| 2025-12-03 | MORIYAMA LESLIE A | Tax withheld | 1.6K | — |
| 2025-12-03 | EHRMAN BRADLEY J | Tax withheld | 1.7K | — |
| 2025-12-03 | Box Frank Damon | Buy | 5.0K | $21.96 |
| 2025-12-01 | MORIYAMA LESLIE A | Tax withheld | 6.5K | $21.63 |
| 2025-12-01 | MORIYAMA LESLIE A | Grant | 16K | $21.63 |
| 2025-12-01 | EHRMAN BRADLEY J | Tax withheld | 6.5K | $21.63 |
| 2025-12-01 | EHRMAN BRADLEY J | Grant | 18K | $21.63 |
| 2025-11-28 | VAUGHN ROBERT C | Buy | 195 | $21.36 |
| 2025-11-28 | DORCHESTER MINERALS OPERATING LP | Other | 58K | $21.95 |
| 2025-11-26 | EHRMAN BRADLEY J | Buy | 2.5K | $21.60 |
| 2025-11-25 | MORIYAMA LESLIE A | Buy | 3.0K | $21.50 |
| 2025-11-25 | VAUGHN ROBERT C | Buy | 4.3K | $21.41 |
| 2025-11-25 | VAUGHN ROBERT C | Buy | 352 | $21.39 |
| 2025-11-25 | EHRMAN BRADLEY J | Buy | 1.0K | $21.26 |
| 2025-09-05 | Box Frank Damon | Buy | 4.0K | $25.57 |
| 2025-04-30 | DORCHESTER MINERALS OPERATING LP | Buy | 10K | $28.76 |
| 2025-03-03 | EHRMAN BRADLEY J | Buy | 3.4K | $29.80 |
| 2025-02-06 | DORCHESTER MINERALS OPERATING LP | Buy | 335 | $31.06 |
| 2025-02-04 | DORCHESTER MINERALS OPERATING LP | Buy | 6.5K | $30.90 |
| 2025-01-31 | DORCHESTER MINERALS OPERATING LP | Buy | 7.5K | $31.69 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-15 | Shareholder vote | filing ↗ |
| 2026-05-12 | Reg FDExhibits | filing ↗ |
| 2026-05-06 | ResultsReg FDExhibits | filing ↗ |
| 2026-04-23 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-16 | Reg FDOtherExhibits | filing ↗ |
| 2026-03-02 | OtherExhibits | filing ↗ |
| 2026-02-24 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-17 | Exec/director changeReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-15 | 2026-05-13 | 0001437749-26-017379 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0001437749-26-016449 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001437749-26-015255 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001437749-26-015228 ↗ |
| 8-K | 2026-04-23 | 2026-04-23 | 0001437749-26-013182 ↗ |
| 8-K | 2026-03-16 | 2026-03-12 | 0001437749-26-008396 ↗ |
| 8-K | 2026-03-02 | 2026-02-27 | 0001437749-26-006399 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001437749-26-005375 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001437749-26-005376 ↗ |
| 8-K | 2026-02-17 | 2026-02-11 | 0001437749-26-004394 ↗ |
| 8-K | 2026-01-22 | 2026-01-22 | 0001437749-26-001780 ↗ |
| 8-K | 2025-12-09 | 2025-12-04 | 0001437749-25-037280 ↗ |