Dorian LPG Ltd. (NYSE:LPG) Receives $55.00 Consensus Target Price from Brokerages

Dorian LPG Ltd. (NYSE:LPG) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $55.00.

A number of research firms have recently issued reports on LPG. Jefferies Financial Group raised their price target 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 reiterated a “buy” rating on shares of Dorian LPG in a research report on Thursday, May 21st. Weiss Ratings raised Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Dnb Carnegie raised Dorian LPG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Wall Street Zen upgraded Dorian LPG from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd.

Insider Activity at Dorian LPG

In other Dorian LPG news, Director Ted Kalborg sold 15,373 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $45.06, for a total value of $692,707.38. Following the transaction, the director directly owned 66,348 shares in the company, valued at approximately $2,989,640.88. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tim Truels Hansen sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $35.38, for a total transaction of $707,600.00. Following the completion of the transaction, the insider owned 157,842 shares in the company, valued at $5,584,449.96. The trade was a 11.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Dorian LPG

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Dorian LPG by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,549,771 shares of the shipping company’s stock worth $87,199,000 after buying an additional 73,754 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Dorian LPG by 12.4% during the 4th quarter. Vanguard Group Inc. now owns 1,874,907 shares of the shipping company’s stock valued at $45,635,000 after buying an additional 207,575 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Dorian LPG by 6.2% during the 3rd quarter. American Century Companies Inc. now owns 1,697,048 shares of the shipping company’s stock valued at $50,572,000 after acquiring an additional 99,485 shares during the period. Geode Capital Management LLC grew its stake in shares of Dorian LPG by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,116,702 shares of the shipping company’s stock valued at $27,184,000 after acquiring an additional 10,480 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Dorian LPG by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 678,899 shares of the shipping company’s stock worth $16,524,000 after acquiring an additional 23,974 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Dorian LPG Stock Performance

Shares of NYSE LPG opened at $39.04 on Friday. The firm’s 50-day moving average price is $40.65 and its 200-day moving average price is $34.70. Dorian LPG has a 52-week low of $23.76 and a 52-week high of $48.12. The company has a market cap of $1.67 billion, a PE ratio of 8.58 and a beta of 0.66. The company has a quick ratio of 2.65, a current ratio of 2.67 and a debt-to-equity ratio of 0.40.

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

Dorian LPG Dividend Announcement

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

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.