Dorian LPG Ltd. (NYSE:LPG – Get Free Report) has been given a consensus recommendation of “Hold” by the five research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $42.00.
LPG has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dorian LPG in a research note on Wednesday, April 22nd. Dnb Carnegie cut shares of Dorian LPG from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 11th. Wall Street Zen cut shares of Dorian LPG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 22nd. Finally, Jefferies Financial Group initiated coverage on shares of Dorian LPG in a research note on Friday, April 24th. They issued a “buy” rating and a $42.00 price target for the company.
Read Our Latest Analysis on Dorian LPG
Dorian LPG Stock Performance
Dorian LPG Dividend Announcement
The company also recently declared a special dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 18th will be paid a $1.00 dividend. The ex-dividend date is Monday, May 18th.
Insider Buying and Selling at Dorian LPG
In other news, CFO Theodore B. Young sold 10,000 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $34.84, for a total value of $348,400.00. Following the transaction, the chief financial officer directly owned 122,926 shares of the company’s stock, valued at $4,282,741.84. This represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.60% of the stock is owned by insiders.
Hedge Funds Weigh In On Dorian LPG
Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in shares of Dorian LPG by 14.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,590 shares of the shipping company’s stock valued at $89,000 after purchasing an additional 318 shares during the period. IHT Wealth Management LLC raised its position in shares of Dorian LPG by 2.1% in the fourth quarter. IHT Wealth Management LLC now owns 17,804 shares of the shipping company’s stock valued at $433,000 after purchasing an additional 365 shares during the period. WINTON GROUP Ltd raised its position in shares of Dorian LPG by 0.8% in the fourth quarter. WINTON GROUP Ltd now owns 44,640 shares of the shipping company’s stock valued at $1,087,000 after purchasing an additional 373 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Dorian LPG by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 13,286 shares of the shipping company’s stock valued at $324,000 after purchasing an additional 390 shares during the period. Finally, CoreCap Advisors LLC raised its position in shares of Dorian LPG by 18.7% in the fourth quarter. CoreCap Advisors LLC now owns 3,269 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 514 shares during the period. 62.50% of the stock is owned by institutional investors.
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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