Short Interest in Dorian LPG Ltd. (NYSE:LPG) Drops By 21.4%

Dorian LPG Ltd. (NYSE:LPG) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,690,000 shares, a decline of 21.4% from the October 31st total of 2,150,000 shares. Based on an average daily trading volume, of 617,100 shares, the days-to-cover ratio is presently 2.7 days. Approximately 4.3% of the company’s shares are sold short.

Dorian LPG Stock Up 0.4 %

LPG traded up $0.09 on Friday, hitting $24.47. 333,181 shares of the company were exchanged, compared to its average volume of 754,357. The firm has a 50-day moving average price of $30.44 and a two-hundred day moving average price of $37.08. The company has a current ratio of 4.22, a quick ratio of 4.20 and a debt-to-equity ratio of 0.48. Dorian LPG has a twelve month low of $23.92 and a twelve month high of $51.66. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 4.15 and a beta of 1.00.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings data on Thursday, October 31st. The shipping company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The company had revenue of $82.40 million for the quarter, compared to analyst estimates of $82.40 million. During the same period in the prior year, the firm posted $1.85 earnings per share. The business’s quarterly revenue was down 43.1% compared to the same quarter last year. On average, equities analysts predict that Dorian LPG will post 3.45 earnings per share for the current year.

Dorian LPG Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, November 25th. Stockholders of record on Tuesday, November 5th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, November 5th. Dorian LPG’s dividend payout ratio (DPR) is presently 16.95%.

Hedge Funds Weigh In On Dorian LPG

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP increased its position in shares of Dorian LPG by 57.8% during the second quarter. Quarry LP now owns 942 shares of the shipping company’s stock worth $40,000 after purchasing an additional 345 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Dorian LPG by 60.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,050 shares of the shipping company’s stock valued at $44,000 after acquiring an additional 395 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in Dorian LPG by 126.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,247 shares of the shipping company’s stock valued at $52,000 after purchasing an additional 697 shares during the last quarter. CWM LLC boosted its stake in Dorian LPG by 285.4% during the 3rd quarter. CWM LLC now owns 2,058 shares of the shipping company’s stock worth $71,000 after purchasing an additional 1,524 shares during the period. Finally, Ovata Capital Management Ltd purchased a new position in Dorian LPG during the 2nd quarter worth $210,000. 62.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a “buy” rating and set a $42.00 price target on shares of Dorian LPG in a report on Thursday, October 31st.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.