Dorian LPG (NYSE:LPG) Shares Gap Down on Analyst Downgrade

Dorian LPG Ltd. (NYSE:LPG)’s stock price gapped down prior to trading on Wednesday after Dnb Carnegie downgraded the stock from a hold rating to a strong sell rating. The stock had previously closed at $34.57, but opened at $32.67. Dorian LPG shares last traded at $32.42, with a volume of 299,292 shares trading hands.

A number of other equities research analysts also recently weighed in on LPG. Wall Street Zen downgraded Dorian LPG from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Dorian LPG in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Dorian LPG currently has an average rating of “Hold” and a consensus target price of $35.00.

Insider Transactions at Dorian LPG

In other news, CFO Theodore B. Young sold 10,000 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $34.84, for a total transaction of $348,400.00. Following the transaction, the chief financial officer owned 122,926 shares of the company’s stock, valued at $4,282,741.84. This represents a 7.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John C. Hadjipateras bought 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was purchased at an average cost of $27.30 per share, with a total value of $409,500.00. Following the completion of the transaction, the chief executive officer directly owned 153,500 shares in the company, valued at $4,190,550. This represents a 10.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Dorian LPG

A number of institutional investors have recently modified their holdings of LPG. NewEdge Advisors LLC grew its position in Dorian LPG by 1,003.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,315 shares during the period. EverSource Wealth Advisors LLC increased its stake in Dorian LPG by 429.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 1,340 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Dorian LPG during the third quarter worth $41,000. Sunbelt Securities Inc. acquired a new position in Dorian LPG during the third quarter worth $41,000. Finally, Citizens National Bank Trust Department bought a new position in shares of Dorian LPG in the third quarter valued at $45,000. 62.50% of the stock is owned by institutional investors and hedge funds.

Dorian LPG Price Performance

The stock has a market capitalization of $1.28 billion, a P/E ratio of 10.56 and a beta of 0.53. The business’s 50 day simple moving average is $31.31 and its two-hundred day simple moving average is $28.94. The company has a quick ratio of 2.40, a current ratio of 2.41 and a debt-to-equity ratio of 0.38.

Dorian LPG (NYSE:LPG) last posted its earnings results on Thursday, February 5th. The shipping company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.06). Dorian LPG had a return on equity of 11.82% and a net margin of 29.88%.The business had revenue of $118.23 million for the quarter, compared to the consensus estimate of $115.15 million. During the same period in the previous year, the firm earned $0.43 earnings per share. The company’s revenue was up 48.7% on a year-over-year basis. As a group, sell-side analysts forecast that Dorian LPG Ltd. will post 2.6 earnings per share for the current fiscal year.

Dorian LPG Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Tuesday, February 24th. Shareholders of record on Monday, February 9th were issued a dividend of $0.70 per share. This represents a yield of 881.0%. The ex-dividend date of this dividend was Monday, February 9th.

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.