Dimensional Fund Advisors LP grew its position in Dorian LPG Ltd. (NYSE:LPG – Free Report) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,549,771 shares of the shipping company’s stock after purchasing an additional 73,754 shares during the period. Dimensional Fund Advisors LP owned about 0.06% of Dorian LPG worth $87,199,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LPG. NewEdge Advisors LLC raised its stake in shares of Dorian LPG by 1,003.8% during the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,315 shares in the last quarter. KBC Group NV bought a new stake in shares of Dorian LPG in the 1st quarter valued at approximately $38,000. EverSource Wealth Advisors LLC grew its stake in shares of Dorian LPG by 429.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company’s stock valued at $40,000 after buying an additional 1,340 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in Dorian LPG in the third quarter worth approximately $41,000. Finally, Hilton Head Capital Partners LLC acquired a new position in Dorian LPG in the fourth quarter worth approximately $49,000. 62.50% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Dorian LPG
In related news, Director Ted Kalborg sold 15,373 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $45.06, for a total transaction of $692,707.38. Following the completion of the transaction, the director owned 66,348 shares of the company’s stock, valued at approximately $2,989,640.88. The trade was a 18.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tim Truels Hansen sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $35.38, for a total value of $707,600.00. Following the sale, the insider owned 157,842 shares of the company’s stock, valued at approximately $5,584,449.96. The trade was a 11.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 13.60% of the company’s stock.
Dorian LPG Stock Performance
Dorian LPG (NYSE:LPG – Get Free Report) last released its earnings results on Tuesday, May 19th. The shipping company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.48. The firm had revenue of $153.27 million during the quarter, compared to analyst estimates of $128.87 million. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The business’s revenue was up 102.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS.
Dorian LPG Announces Dividend
The firm also recently disclosed a special dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Monday, July 27th will be paid a $1.00 dividend. The ex-dividend date is Monday, July 27th.
Analyst Ratings Changes
A number of research firms have issued reports on LPG. Wall Street Zen upgraded shares of Dorian LPG from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Weiss Ratings upgraded shares of Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Pareto Securities restated a “buy” rating on shares of Dorian LPG in a report on Thursday, May 21st. Dnb Carnegie raised shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Freedom Capital cut shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Dorian LPG currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.
Get Our Latest Research Report on Dorian LPG
Dorian LPG Profile
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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