DMLP on Nasdaq

DORCHESTER MINERALS, L.P.

American crude petroleum and natural gas company based in Dallas.

Price unavailable

Last updated Oct 18, 2026.

Overview

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  • TickerDMLP on Nasdaq
  • IndustryCrude Petroleum & Natural Gas
  • HeadquartersDallas, United States
  • Incorporated inDE2
  • Business address3838 Oak Lawn Avenue, Suite 300, Dallas, Tx 75219-45412
  • Filer categoryLarge accelerated filer2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

37.5%Net margin3
-5.4%Revenue growth, 20253

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Royalties, Oil brought in 75% of the revenue DORCHESTER MINERALS, L.P. broke down this way in fiscal 2025.

  1. Royalties, Oil$114.1M375%down 12% from 2024
  2. Net Profit Interests$13.9M39%down 36% from 2024
  3. Royalties, Natural Gas$13.7M39%up 76% from 2024
  4. Lease Bonus$9.4M36%up 2894% from 2024
  5. Other Revenue$1.7M31%down 11% from 2024
Products and services by year
Products and services202320242025
Royalties, Oil$102.3M$129.7M$114.1M
Net Profit Interests$34.3M$21.9M$13.9M
Royalties, Natural Gas$12.2M$7.8M$13.7M
Lease Bonus$12.7M$314.0K$9.4M
Other Revenue$2.3M$1.9M$1.7M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs62¢$95.5M
  • Profit38¢$57.4M

Out of $152.8M in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Kept or used elsewhere100¢$132.5M

Out of $132.5M of cash from operations.3

Financial statements

Revenue45673$152.8M in 2025+94% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $78.8M$78.8M20192020: $46.9M$46.9M2020−40%2021: $93.4M$93.4M2021+99%2022: $170.8M$170.8M2022+83%2023: $163.8M$163.8M2023−4%2024: $161.5M$161.5M2024−1%2025: $152.8M$152.8M2025−5%
Net income45673$57.4M in 2025+9% since 2019
0$50.0M$100.0M$150.0M2019: $52.8M$52.8M20192020: $21.9M$21.9M2020−59%2021: $70.2M$70.2M2021+221%2022: $130.6M$130.6M2022+86%2023: $114.1M$114.1M2023−13%2024: $92.4M$92.4M2024−19%2025: $57.4M$57.4M2025−38%

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
Operating revenues$152.8M$161.5M$163.8M
Production taxes$5.8M$6.9M$5.8M
Operating expenses$10.0M$7.7M$6.4M
Depreciation, depletion and amortization$66.3M$42.6M$26.3M
Total costs and expenses$95.5M$69.1M$49.7M
Net income$57.4M$92.4M$114.1M
General Partner$2.1M$3.2M$3.7M
Unitholders$55.3M$89.2M$110.4M
Net income per common unit (basic and diluted) (in dollars per share)$1.16$2.13$2.85
Weighted average basic and diluted common units outstanding (in shares)47.7M shares41.8M shares38.8M shares

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Leadership

Who has led DORCHESTER MINERALS, L.P., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. William Casey McManemin2006–2020
  2. Bradley J. Ehrman2022–now

Chair

  1. William Casey McManemin2024

Chief financial officer

  1. H. C. Allen Jr.2008–2015
  2. Leslie A. Moriyama2015–now

Chief operating officer

  1. James E. Raley2007–2013
  2. H. C. Allen Jr.2011
  3. Bradley J. Ehrman2015–2022
2010201520202025
Board members and other officers (16)

Former names

  • DORCHESTER MINERALS LPMay 15, 2002 to Jun 16, 20112

Timeline

  1. Nov 14, 2022New chief executive Bradley J. Ehrman becomes CEO12
  2. Jan 4, 2006New chief executive William Casey McManemin becomes CEO13

Filings

199 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 78 major events, 82 insider forms, 6 large holders, 12 other. The latest 20:

  1. Aug 19, 20264 FORM4-MORIYAMA-081926 EDGAR
  2. Aug 7, 20268-K EDGAR
  3. Aug 6, 202610-Q EDGAR
  4. Aug 3, 20268-K EDGAR
  5. Jul 23, 20268-K EDGAR
  6. Jul 6, 20268-K EDGAR
  7. Jun 2, 20264 FORM4-DMO-060126 EDGAR
  8. May 22, 20264 FORM4-DMO-052026 EDGAR
  9. May 15, 20268-K EDGAR
  10. May 14, 2026SCHEDULE 13G/A EDGAR
  11. May 12, 20268-K EDGAR
  12. May 12, 20264 FORM4-EHRMAN-051226 EDGAR
  13. May 6, 202610-Q EDGAR
  14. May 6, 20268-K EDGAR
  15. Apr 23, 20268-K EDGAR
  16. Apr 2, 2026DEF 14A EDGAR
  17. Mar 16, 20268-K EDGAR
  18. Mar 2, 20268-K EDGAR
  19. Feb 24, 202610-K EDGAR
  20. Feb 24, 20268-K EDGAR

The 199 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 6 such filings since October 2021:

  1. May 14, 2026SCHEDULE 13G/A
  2. May 14, 2025SCHEDULE 13G/A
  3. Dec 23, 2024SCHEDULE 13D/A
  4. Nov 25, 2024SC 13D/A
  5. Nov 7, 2024SC 13D
  6. Oct 11, 2024SC 13G

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Morgan Stanley1,039,501$26.2M0.0%−739,211
Adams Asset Advisors, LLC910,934$23.0M2.6%+22,670
Horizon Kinetics Asset Management LLC852,651$21.5M0.2%−7,575
Turtle Creek Wealth Advisors, LLC842,225$21.3M1.1%New
Hollow Brook Wealth Management LLC803,023$20.3M4.0%No change
MidFirst Bank500,743$12.6M0.9%+6,590
Meixler Investment Management, Ltd.369,041$9.3M5.1%−15,728
Pathstone Holdings, LLC359,480$9.1M0.0%+351,000
Royce & Associates LP338,629$8.6M0.1%No change
ArchPoint Investors314,184$7.9M1.7%−185,714
Freestone Capital Holdings, LLC306,149$7.7M0.2%+119,149
Natixis234,400$5.9M0.0%No change
Texas Yale Capital Corp.213,000$5.4M0.1%+5,500
Delta Investment Management, LLC176,418$4.5M0.7%−108,624
First Trust Advisors LP169,403$4.3M0.0%−3,628
&partners164,018$4.1M0.0%−23,159
Ing Groep Nv150,500$3.8M0.0%+19,000
Bank Of America Corp /de/148,948$3.8M0.0%+100
Kingsview Wealth Management, LLC142,010$3.6M0.0%−29,295
Jane Street Group, LLC137,184$3.5M0.0%+113,441
Royal Bank Of Canada134,571$3.4M0.0%+11,968
Citadel Advisors LLC128,243$3.2M0.0%+95,026
Stifel Financial Corp128,138$3.2M0.0%+2,421
Goldman Sachs Group Inc127,589$3.2M0.0%+72,451
GraniteShares Advisors LLC126,444$3.2M2.1%+16,550

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Mar 13, 2026August PflugerRepublican, HouseBuy$15,001 - $50,000−3.7%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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