Dorian LPG (NYSE:LPG) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Dorian LPG (NYSE:LPG) from a strong-buy rating to a buy rating in a report issued on Sunday morning.

LPG has been the subject of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Dorian LPG in a research report on Monday, December 29th. Dnb Carnegie raised shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Finally, Pareto Securities lowered shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.00.

Dorian LPG Stock Performance

Shares of LPG opened at $35.17 on Friday. 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 has a 52-week low of $16.66 and a 52-week high of $35.82. The stock has a 50 day moving average price of $28.74 and a 200 day moving average price of $28.54. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 12.38 and a beta of 0.58.

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

Dorian LPG Dividend Announcement

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

Insider Activity

In other news, CFO Theodore B. Young sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $34.84, for a total transaction of $348,400.00. Following the transaction, the chief financial officer directly owned 122,926 shares of the company’s stock, valued at approximately $4,282,741.84. This trade represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tim Truels Hansen sold 25,000 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $28.85, for a total transaction of $721,250.00. Following the completion of the transaction, the insider owned 212,842 shares of the company’s stock, valued at $6,140,491.70. This trade represents a 10.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 13.60% of the company’s stock.

Institutional Trading of Dorian LPG

A number of hedge funds have recently bought and sold shares of LPG. Dimensional Fund Advisors LP lifted its stake in Dorian LPG by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,493,668 shares of the shipping company’s stock worth $74,312,000 after acquiring an additional 13,241 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Dorian LPG by 12.4% in the fourth quarter. Vanguard Group Inc. now owns 1,874,907 shares of the shipping company’s stock worth $45,635,000 after purchasing an additional 207,575 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Dorian LPG by 6.2% in the third quarter. American Century Companies Inc. now owns 1,697,048 shares of the shipping company’s stock worth $50,572,000 after purchasing an additional 99,485 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Dorian LPG by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,116,702 shares of the shipping company’s stock worth $27,184,000 after purchasing an additional 10,480 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Dorian LPG by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 678,899 shares of the shipping company’s stock valued at $16,524,000 after purchasing an additional 23,974 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.