Dorian LPG (NYSE:LPG) Reaches New 12-Month High at $19.68

Dorian LPG Ltd. (NYSE:LPGGet Rating) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $19.68 and last traded at $19.64, with a volume of 8709 shares. The stock had previously closed at $19.30.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LPG shares. StockNews.com lowered shares of Dorian LPG from a “buy” rating to a “hold” rating in a report on Monday. Jefferies Financial Group boosted their target price on shares of Dorian LPG from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, November 2nd.

Dorian LPG Stock Performance

The company has a quick ratio of 2.90, a current ratio of 2.93 and a debt-to-equity ratio of 0.71. The company has a market cap of $785.61 million, a PE ratio of 8.05 and a beta of 1.15. The business’s fifty day moving average is $16.26 and its 200-day moving average is $15.88.

Dorian LPG Dividend Announcement

The business also recently announced a Variable dividend, which will be paid on Tuesday, December 6th. Investors of record on Monday, November 7th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, November 4th. Dorian LPG’s dividend payout ratio (DPR) is presently 227.27%.

Insider Buying and Selling at Dorian LPG

In other news, Director Thomas Jason Coleman sold 40,000 shares of Dorian LPG stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $14.79, for a total transaction of $591,600.00. Following the transaction, the director now directly owns 2,210,000 shares of the company’s stock, valued at approximately $32,685,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Thomas Jason Coleman sold 40,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $14.79, for a total value of $591,600.00. Following the completion of the transaction, the director now owns 2,210,000 shares of the company’s stock, valued at approximately $32,685,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Theodore B. Young sold 12,500 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $19.00, for a total value of $237,500.00. Following the completion of the sale, the chief financial officer now owns 98,440 shares of the company’s stock, valued at approximately $1,870,360. The disclosure for this sale can be found here. Over the last quarter, insiders sold 427,500 shares of company stock valued at $7,221,640. Company insiders own 28.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Dorian LPG during the third quarter valued at approximately $139,000. Balyasny Asset Management LLC bought a new stake in Dorian LPG in the 3rd quarter valued at $3,435,000. Baird Financial Group Inc. boosted its holdings in shares of Dorian LPG by 2.1% during the 3rd quarter. Baird Financial Group Inc. now owns 26,192 shares of the shipping company’s stock valued at $356,000 after purchasing an additional 537 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Dorian LPG by 1.6% during the third quarter. Alliancebernstein L.P. now owns 39,335 shares of the shipping company’s stock valued at $534,000 after purchasing an additional 624 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Dorian LPG by 20.5% in the third quarter. Thrivent Financial for Lutherans now owns 32,777 shares of the shipping company’s stock worth $445,000 after purchasing an additional 5,567 shares during the last quarter. 85.17% of the stock is owned by hedge funds and other institutional investors.

About Dorian LPG

(Get Rating)

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. The company owns and operates very large gas carriers (VLGCs). As of May 27, 2022, its fleet consisted of twenty-two VLGCs. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.

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