Dorian LPG Ltd. (NYSE:LPG – Get Free Report) shares traded down 5.4% during mid-day trading on Thursday . The company traded as low as $38.63 and last traded at $38.4650. Approximately 169,835 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 608,911 shares. The stock had previously closed at $40.65.
Analyst Ratings Changes
LPG has been the subject of a number of recent analyst reports. Pareto Securities reissued a “buy” rating on shares of Dorian LPG in a research report on Thursday, May 21st. Jefferies Financial Group lifted their target price on Dorian LPG from $42.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Freedom Capital downgraded shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Weiss Ratings raised Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Finally, Wall Street Zen raised Dorian LPG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.00.
Check Out Our Latest Research Report on LPG
Dorian LPG Stock Performance
Dorian LPG (NYSE:LPG – Get Free Report) last released its quarterly earnings results on Tuesday, May 19th. The shipping company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.41 by $0.48. The business had revenue of $153.27 million during the quarter, compared to analysts’ expectations of $128.87 million. Dorian LPG had a return on equity of 18.01% and a net margin of 40.22%.The company’s quarterly revenue was up 102.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share.
Dorian LPG Announces Dividend
The firm also recently announced a special dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were paid a dividend of $1.00 per share. This represents a dividend yield of 951.0%. The ex-dividend date of this dividend was Monday, May 18th.
Insider Buying and Selling at Dorian LPG
In other Dorian LPG news, Director Ted Kalborg sold 15,373 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $45.06, for a total value of $692,707.38. Following the completion of the sale, the director owned 66,348 shares of the company’s stock, valued at approximately $2,989,640.88. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tim Truels Hansen sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.38, for a total transaction of $707,600.00. Following the completion of the sale, the insider owned 157,842 shares of the company’s stock, valued at $5,584,449.96. This trade represents a 11.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 13.60% of the company’s stock.
Institutional Trading of Dorian LPG
Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Dorian LPG by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,603 shares of the shipping company’s stock valued at $483,000 after buying an additional 914 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Dorian LPG by 1,003.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Dorian LPG by 50.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,039 shares of the shipping company’s stock worth $3,977,000 after acquiring an additional 59,311 shares during the last quarter. Jane Street Group LLC increased its position in Dorian LPG by 130.6% during the 1st quarter. Jane Street Group LLC now owns 133,850 shares of the shipping company’s stock worth $2,990,000 after purchasing an additional 75,818 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Dorian LPG by 12.7% in the second quarter. Cetera Investment Advisers now owns 13,613 shares of the shipping company’s stock worth $332,000 after acquiring an additional 1,539 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.
About Dorian LPG
Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.
Dorian LPG’s fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.
The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.
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