Dorian LPG (NYSE:LPG) Stock Price Down 5.4% – Here’s What Happened

Dorian LPG Ltd. (NYSE:LPG) traded down 5.4% during trading on Thursday . The company traded as low as $38.63 and last traded at $38.4650. Approximately 169,835 shares traded hands during trading, a decline of 72% from the average daily volume of 608,911 shares. The stock had previously closed at $40.65.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LPG shares. Weiss Ratings upgraded Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Wall Street Zen raised shares of Dorian LPG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Freedom Capital lowered shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Dnb Carnegie upgraded shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Pareto Securities reissued a “buy” rating on shares of Dorian LPG in a research report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Dorian LPG currently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Dorian LPG Stock Performance

The stock’s 50-day moving average price is $40.70 and its 200-day moving average price is $34.81. The company has a current ratio of 2.67, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.63 billion, a P/E ratio of 8.37 and a beta of 0.66.

Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Tuesday, May 19th. The shipping company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.48. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The firm had revenue of $153.27 million for the quarter, compared to analyst estimates of $128.87 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. Dorian LPG’s quarterly revenue was up 102.0% on a year-over-year basis.

Dorian LPG Dividend Announcement

The business also recently declared a special dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were given a dividend of $1.00 per share. This represents a dividend yield of 951.0%. The ex-dividend date was Monday, May 18th.

Insider Buying and Selling

In related news, Director Ted Kalborg sold 15,373 shares of the firm’s stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tim Truels Hansen sold 20,000 shares of the business’s 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 transaction, the insider owned 157,842 shares of the company’s stock, valued at $5,584,449.96. This represents a 11.25% decrease in their position. The SEC filing for this sale provides additional information. 13.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dorian LPG

Hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new position in shares of Dorian LPG during the first quarter worth about $11,929,000. AQR Capital Management LLC grew its stake in shares of Dorian LPG by 236.7% in the second quarter. AQR Capital Management LLC now owns 425,478 shares of the shipping company’s stock worth $10,373,000 after purchasing an additional 299,107 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Dorian LPG by 136.2% in the second quarter. Bank of America Corp DE now owns 368,986 shares of the shipping company’s stock worth $8,996,000 after purchasing an additional 212,787 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Dorian LPG by 12.4% during the fourth quarter. Vanguard Group Inc. now owns 1,874,907 shares of the shipping company’s stock valued at $45,635,000 after purchasing an additional 207,575 shares during the period. Finally, Tudor Investment Corp ET AL raised its stake in shares of Dorian LPG by 425.4% during the third quarter. Tudor Investment Corp ET AL now owns 256,216 shares of the shipping company’s stock valued at $7,635,000 after purchasing an additional 207,450 shares in the last quarter. Institutional investors and hedge funds 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.