Navellier & Associates Inc. Invests $2.16 Million in Dorian LPG Ltd. $LPG

Navellier & Associates Inc. bought a new position in Dorian LPG Ltd. (NYSE:LPGFree Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 62,051 shares of the shipping company’s stock, valued at approximately $2,158,000. Navellier & Associates Inc. owned approximately 0.15% of Dorian LPG as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC boosted its position in shares of Dorian LPG by 117.5% in the first quarter. Empowered Funds LLC now owns 197,030 shares of the shipping company’s stock worth $6,738,000 after buying an additional 106,428 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Dorian LPG during the 1st quarter valued at about $1,491,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Dorian LPG during the 1st quarter valued at about $1,247,000. Allspring Global Investments Holdings LLC lifted its position in Dorian LPG by 227.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 215,568 shares of the shipping company’s stock worth $7,247,000 after acquiring an additional 149,787 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Dorian LPG in the 1st quarter worth approximately $2,211,000. Institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Dnb Carnegie upgraded shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. 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 reaffirmed a “buy (b-)” rating on shares of Dorian LPG in a report on Tuesday. Pareto Securities reaffirmed a “buy” rating on shares of Dorian LPG in a report on Thursday, May 21st. Finally, Jefferies Financial Group lifted their price target on shares of Dorian LPG from $42.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.00.

View Our Latest Research Report on Dorian LPG

Insider Buying and Selling

In other Dorian LPG news, insider Tim Truels Hansen sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $45.04, for a total transaction of $1,126,000.00. Following the completion of the transaction, the insider directly owned 157,675 shares of the company’s stock, valued at $7,101,682. This trade represents a 13.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.50% of the stock is owned by company insiders.

Dorian LPG Price Performance

LPG stock opened at $49.64 on Friday. The stock’s 50 day moving average is $43.34 and its two-hundred day moving average is $39.44. Dorian LPG Ltd. has a 52-week low of $23.76 and a 52-week high of $52.10. The company has a market capitalization of $2.12 billion, a PE ratio of 6.57 and a beta of 0.65. The company has a quick ratio of 3.24, a current ratio of 3.26 and a debt-to-equity ratio of 0.28.

Dorian LPG (NYSE:LPGGet Free Report) last released its earnings results on Tuesday, August 4th. The shipping company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.12 by $0.40. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%.The company had revenue of $187.88 million during the quarter, compared to analysts’ expectations of $160.78 million. During the same period in the prior year, the business posted $0.27 EPS. The business’s revenue was up 123.1% on a year-over-year basis.

Dorian LPG Announces Dividend

The business also recently declared a special dividend, which was paid on Wednesday, August 12th. Investors of record on Monday, July 27th were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, July 27th.

Dorian LPG Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Dorian LPG (NYSE:LPG)

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