DMLP
Dorchester Minerals, L.P.
Early Trend Expansion, sector confirmed; strongest on volatility (20/20); weakest on sponsorship (13/20). Last earnings neutral (+1.0%); 3 insiders buying.
Early Trend Expansion
XLE
sector confirmed
$147,075 CFO$526,120 other insiders (3)
3 insider(s)
net purchase ratio +1.00
2d since buy
78
conviction / 100
+6.5 since 21 Aug
79.8
technical / 100
$40,000–$50,000
Press
Regime clarity16.9
Sponsorship / positioning12.9
Volatility behaviour19.5
Catalyst alignment (insider)14.7
Cross-asset confirmation14.5
Last
29.02
Add above
29.15
Cut below
25.35
50DMA
25.80
200DMA
24.17
DMLP — daily, 14 months
XLE — sector ETF, daily, 14 months
Pillar detail, thesis support and invalidation
Regime clarity
What strengthens the thesis
- price above 200DMA
- 200DMA rising
- 50DMA rising
- partial HH/HL structure
- efficiency ratio 0.22
- OBV 50d slope +0.182 avg-daily-volumes/bar
- thin tape — $4.9m median daily turnover. OBV on a name this size is a handful of block trades, not a read on institutional sponsorship
- no OBV divergence at highs
- OBV fell through last pullback
- last pullback 13.2% deep
- no wide downside expansion bars (30d)
- ATR contracting vs 20d mean
- cluster: 3 distinct insiders buying (1 CFO, 1 CEO, 2 Unclassified)
- net purchase ratio +1.00 (3 buying vs 0 selling)
- CFO purchases $147,075 (CFO)
- 1.0 bps of market cap
- grew the CFO's own position by 5%
- 2 days since the last CFO buy
- closest sector ETF: XLE
- XLE above rising 200DMA (sector-led)
- XLE vs SPY 6m: +5.9 pts
- stock vs XLE RS (3m/6m avg): +3.1 pts
- A confirmed higher high above 29.15 on expanding OBV.
- Pullbacks that hold the rising 50DMA with flat-to-rising OBV.
- XLE extending its own trend while the stock holds relative strength.
- Continued base-building above the reclaimed 200DMA without volatility expansion.
- Loss of the rising 50DMA (25.80) with expanding volatility — reduce.
- Breakdown below the prior structural base (25.35) — exit, no averaging down.
- OBV divergence during a price acceleration — reduce.
- Sector ETF losing its own 200DMA — remove capital regardless of stock behaviour.
- CFO: Moriyama Leslie A — CFO
- 1 CFO purchase(s), $147,075 total; last filed 2026-08-19 16:14:59
- Market cap $1,424,632,704 · 20d avg dollar volume $5,840,437
Net buying across the insider group.
| Open-market purchases | $673,195 |
| Open-market sales | $0 |
| Sales after option exercise | $0 |
| Distinct buyers / sellers | 3 / 0 |
| Net purchase ratio | +1.00 |
| Net purchase ratio, excl. option-exercise sales | +1.00 |
1 CFO purchase(s) worth $147,075, plus 3 by other insiders worth $526,120. Only the CFO purchases score on the size and recency terms.
| Trade date | Insider | Shares | Price | Value | Price now vs buy |
|---|---|---|---|---|---|
| 12 May 2026 | Ehrman Bradley JCEO | 4,000 | $26.78 | $107,120 | +8.4% |
| 20 May 2026 | Dorchester Minerals Operating LPUnclassified | 7,500 | $28.30 | $212,280 | +2.5% |
| 01 Jun 2026 | Dorchester Minerals Operating LPUnclassified | 7,500 | $27.56 | $206,720 | +5.3% |
| 19 Aug 2026 | Moriyama Leslie ACFO | 5,197 | $28.30 | $147,075 | +2.5% |
8 material events; 1 taken well, 0 badly; last earnings 07 Aug: neutral (+1.0%).
| Session | Filing | Event | Gap | Day | vs SPY | Vol | +5d | Read |
|---|---|---|---|---|---|---|---|---|
| 07 Aug 26 | 8-K · earnings | Results of operations (earnings); Director or officer change; Regulation FD disclosure | +0.0% | +1.0% | +0.4% | 0.3x | +6.2% | Neutral |
| 06 Aug 26 | 10-Q | Quarterly report | +0.5% | +1.2% | +1.4% | 0.4x | +6.9% | Neutral |
| 03 Aug 26 | 8-K | Regulation FD disclosure; Other material event | -0.7% | -2.4% | -3.8% | 1.4x | +3.2% | Neutral |
| 23 Jul 26 | 8-K · earnings | Results of operations (earnings); Regulation FD disclosure | +1.4% | +0.6% | +1.9% | 3.1x | -1.8% | Shrugged off |
| 06 Jul 26 | 8-K | Regulation FD disclosure; Other material event | -0.4% | +0.0% | -0.9% | 0.8x | +5.7% | Neutral |
| 15 May 26 | 8-K | Material event | +0.1% | +1.6% | +2.8% | 0.6x | -0.7% | Neutral |
| 12 May 26 | 8-K | Regulation FD disclosure | +1.1% | +2.5% | +2.6% | 1.0x | +6.1% | Neutral |
| 06 May 26 | 8-K · earnings | Results of operations (earnings); Regulation FD disclosure | -1.6% | -3.1% | -4.5% | 1.4x | +3.7% | Neutral |