DMLP
Dorchester Minerals, L.P. Energy - Oil & Gas Royalties Investor Relations →
Dorchester Minerals, L.P. (DMLP) closed at $25.00 as of 2026-06-19, trading 4.3% above its 200-week moving average of $23.96. The stock is currently moving closer to the line, down from 11.6% last week. The 14-week RSI sits at 42, indicating neutral momentum.
A big spike in selling this week — 2.9x the usual volume, and the price dropped. Sometimes this kind of heavy selling marks the end of a decline. The idea is that the last reluctant holders have finally sold, leaving fewer sellers left to push the price lower.
Over the past 1171 weeks of data, DMLP has crossed below its 200-week moving average 10 times. On average, these episodes lasted 24 weeks. Historically, investors who bought DMLP at the start of these episodes saw an average one-year return of +15.1%.
With a market cap of $1206 million, DMLP is a small-cap stock. The company generates a free cash flow yield of 7.8%, which is healthy. Return on equity stands at 21.5%, indicating strong profitability. The stock trades at 4.0x book value.
Share count has increased 25.8% over three years, indicating dilution. DMLP passes our Buffett quality screen: high return on equity, low debt, and positive free cash flow.
Over the past 22.5 years, a hypothetical investment of $100 in DMLP would have grown to $999, compared to $994 for the S&P 500. That represents an annualized return of 10.8% vs 10.7% for the index — confirming DMLP as a market-beating investment and the kind of quality company where buying during 200-week moving average touches has historically been rewarded.
In the past 12 months, corporate insiders have made 11 open-market purchases totaling $2,158,517. Multiple insiders purchased within a 30-day window — a cluster buy pattern that historically signals management confidence in the company's prospects.
Free cash flow has been declining at a -3.4% compound annual rate. A deteriorating cash flow trend warrants extra scrutiny — the stock may be cheap for a reason.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($M)
Revenue Annual revenue ($M) — business growth proxy
Total Debt Balance sheet debt ($M)
ROIC Return on invested capital (%)
FCF Yield Free cash flow / market cap (%) — Yartseva signal
Gross Margin Pricing power & competitive moat (%)
Shares Outstanding Buybacks vs dilution (millions)
Growth of $100: DMLP vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After DMLP Crosses Below the Line?
Across 10 historical episodes, buying DMLP when it crossed below its 200-week moving average produced an average return of +14.6% after 12 months (median +12.0%), compared to +9.2% for the S&P 500 over the same periods. 75% of those episodes were profitable after one year. After 24 months, the average return was +60.2% vs +28.9% for the index.
Each line shows $100 invested at the moment DMLP crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Bean Score Experimental
The Bean Score measures how far a stock's free cash flow yield has deviated from its own quarterly baseline, normalized by the stock's historical behavior. Between earnings dates, FCF is constant — so the score is purely a function of stock price. The levels below show at what prices DMLP would reach each dislocation threshold.
Dislocation Price Levels
Prices where DMLP's Bean Score would hit each σ threshold. Valid until next earnings report: 2026-08-06.
| Level | σ | Price | Signal |
|---|---|---|---|
| Deep Value | +2σ | $24.40 | Unusually cheap — potential buy zone |
| Value | +1σ | $26.91 | Cheap vs. own history |
| Fair Value | +0σ | $29.98 | Historical mean behavior |
| Expensive | -1σ | $33.85 | Expensive vs. own history |
| Deep Expensive | -2σ | $38.87 | Unusually expensive — potential trim zone |
Quarterly FCF & Yield Trailing twelve-month free cash flow and yield at each quarter end
Signal Accuracy Collecting Data
The Bean Score system is accumulating weekly data to validate signal accuracy. After 13+ weeks of history, this section will display win rates and average returns for each σ threshold crossing — answering the question: "When this score says cheap or expensive, does the price subsequently move in the expected direction?"
Theoretical framework — not backtested or forward-tested. The Bean Score uses trailing twelve-month free cash flow yield as a dislocation identifier. It measures whether the market has pushed a stock's yield unusually far from its own baseline behavior. These levels are reference points for identifying potential swing trade opportunities, not buy/sell signals. FCF values update quarterly with earnings; between reports, all movement is price-driven.
Dislocation Scores Experimental
Each score measures deviation from DMLP's own historical baseline — the same idea as the Bean Score, applied to different fundamentals. Positive means cheaper or more dislocated than this stock's norm. Scores marked σ are normalized by the stock's own variability; pp values are simple deltas from its recent baseline.
Theoretical framework — not backtested. These scores describe how unusual today's readings are for this specific company. They are starting points for research, not buy or sell signals. Annual-statement scores (buyback, accruals, FCF vs history) rest on only ~4 yearly data points and are deltas, not sigmas.
Historical Touches
DMLP has crossed below its 200-week MA 10 times with an average 1-year return of +15.1% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Dec 2007 | Dec 2007 | 2 | 1.8% | -2.2% | +569.0% |
| Jan 2008 | Jan 2008 | 1 | 1.3% | +2.5% | +559.0% |
| Oct 2008 | Oct 2008 | 1 | 14.0% | +37.7% | +578.7% |
| Nov 2008 | May 2009 | 26 | 23.7% | +30.2% | +559.6% |
| Jun 2012 | Jun 2012 | 1 | 3.2% | +29.9% | +345.2% |
| Dec 2012 | Dec 2012 | 4 | 4.0% | +29.8% | +322.2% |
| Jun 2015 | Mar 2018 | 141 | 55.3% | -27.9% | +246.2% |
| Mar 2020 | Feb 2021 | 48 | 35.8% | +20.9% | +257.5% |
| Oct 2025 | Oct 2025 | 2 | 1.6% | N/A | +12.6% |
| Nov 2025 | Jan 2026 | 11 | 8.0% | N/A | +16.9% |
| Average | 24 | — | +15.1% | — |
Frequently Asked Questions
Is DMLP below its 200-week moving average?
No. Dorchester Minerals, L.P. (DMLP) is currently 4.3% above its 200-week moving average of $23.96. It would need to fall to $23.96 to cross below the line.
What is DMLP's 200-week moving average price?
Dorchester Minerals, L.P.'s 200-week moving average is $23.96 as of 2026-06-19. This is the average weekly closing price over roughly the last 4 years, and it acts as a long-term trend line. When a stock drops below this level, it can signal that the price has fallen far enough from the long-term trend to attract value-oriented investors.
What happens when DMLP drops below its 200-week moving average?
DMLP has crossed below its 200-week moving average 10 times in our data. On average, buying at that moment produced a one-year return of +15.1%. These dips have historically been decent entry points. These episodes lasted 24 weeks on average.
Is DMLP a good value right now?
Here's what our data says about DMLP as of 2026-06-19: The stock is above its 200-week moving average, so it doesn't currently meet our primary signal. The 14-week RSI is 42. Free cash flow yield is 7.8%. Return on equity is 21.5%. Price-to-book is 4.0x. This is not a buy or sell recommendation — always do your own research.
How does DMLP compare to the S&P 500?
Over the past 22.5 years, $100 invested in DMLP would have grown to $999, compared to $994 for the S&P 500. That's 10.8% annualized vs 10.7% for the index. DMLP has outperformed the broader market over this period.
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of week of 2026-06-19