Dorian LPG (NYSE:LPG) Shares Gap Down – What’s Next?

Dorian LPG Ltd. (NYSE:LPG)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $50.79, but opened at $48.89. Dorian LPG shares last traded at $47.8660, with a volume of 88,528 shares trading hands.

Analysts Set New Price Targets

LPG has been the subject of a number of research analyst reports. Freedom Capital raised shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Wall Street Zen raised Dorian LPG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Jefferies Financial Group raised their target price on Dorian LPG from $42.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Pareto Securities reaffirmed a “buy” rating on shares of Dorian LPG in a research report on Thursday, May 21st. Finally, Dnb Carnegie upgraded Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.00.

Dorian LPG Price Performance

The firm has a market capitalization of $2.11 billion, a PE ratio of 6.55 and a beta of 0.65. The firm’s fifty day moving average price is $43.14 and its 200 day moving average price is $39.37. The company has a current ratio of 3.26, a quick ratio of 3.24 and a debt-to-equity ratio of 0.28.

Dorian LPG (NYSE:LPG) last issued its earnings results on Tuesday, August 4th. The shipping company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.40. The firm had revenue of $187.88 million during the quarter, compared to analysts’ expectations of $160.78 million. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The firm’s revenue was up 123.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 earnings per share.

Dorian LPG Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, August 12th. Shareholders of record on Monday, July 27th were paid a dividend of $1.00 per share. The ex-dividend date was Monday, July 27th.

Insider Activity

In other news, insider Tim Truels Hansen sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $45.04, for a total value of $1,126,000.00. Following the completion of the transaction, the insider owned 157,675 shares of the company’s stock, valued at $7,101,682. The trade was a 13.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.50% of the stock is currently owned by company insiders.

Institutional Trading of Dorian LPG

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

Dorian LPG Company 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.