Oppenheimer & Close LLC cut its holdings in shares of Dorian LPG Ltd (NYSE:LPG) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,151,354 shares of the shipping company’s stock after selling 32,833 shares during the period. Dorian LPG makes up approximately 12.0% of Oppenheimer & Close LLC’s investment portfolio, making the stock its largest holding. Oppenheimer & Close LLC owned 2.09% of Dorian LPG worth $10,385,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. SeaBridge Investment Advisors LLC acquired a new stake in Dorian LPG in the 2nd quarter valued at approximately $27,000. BNP Paribas Arbitrage SA lifted its position in Dorian LPG by 97.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,103 shares of the shipping company’s stock worth $39,000 after buying an additional 3,007 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Dorian LPG during the 1st quarter worth about $95,000. Bank of America Corp DE boosted its stake in shares of Dorian LPG by 56.1% during the 4th quarter. Bank of America Corp DE now owns 19,717 shares of the shipping company’s stock worth $115,000 after buying an additional 7,082 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Dorian LPG during the 1st quarter worth about $159,000. 56.29% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE LPG traded up $0.06 during mid-day trading on Wednesday, reaching $10.38. 12,598 shares of the company were exchanged, compared to its average volume of 386,262. The company’s 50-day simple moving average is $9.64 and its 200-day simple moving average is $8.12. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $565.74 million, a P/E ratio of -13.14 and a beta of 1.13. Dorian LPG Ltd has a twelve month low of $5.26 and a twelve month high of $11.16.
Dorian LPG (NYSE:LPG) last announced its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.09. The business had revenue of $61.17 million for the quarter, compared to analyst estimates of $56.10 million. Dorian LPG had a negative net margin of 12.67% and a negative return on equity of 0.94%. As a group, equities research analysts expect that Dorian LPG Ltd will post 1.49 EPS for the current year.
In other Dorian LPG news, CFO Theodore B. Young sold 4,500 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $9.36, for a total transaction of $42,120.00. Following the transaction, the chief financial officer now owns 122,253 shares in the company, valued at approximately $1,144,288.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Theodore B. Young sold 5,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $9.70, for a total value of $48,500.00. Following the transaction, the chief financial officer now owns 135,691 shares in the company, valued at approximately $1,316,202.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,884,028 shares of company stock valued at $18,056,194. Corporate insiders own 26.40% of the company’s stock.
A number of analysts recently issued reports on the company. TheStreet raised Dorian LPG from a “d+” rating to a “c” rating in a research report on Monday, August 26th. Zacks Investment Research raised shares of Dorian LPG from a “strong sell” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, July 30th. DNB Markets downgraded shares of Dorian LPG from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. ValuEngine cut Dorian LPG from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Wells Fargo & Co upgraded Dorian LPG from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $8.00 to $15.00 in a report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $13.00.
Dorian LPG Profile
Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.
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