Dorian LPG (NYSE:LPG) Downgraded to “Strong Sell” Rating by Dnb Carnegie

Dnb Carnegie downgraded shares of Dorian LPG (NYSE:LPG) from a hold rating to a strong sell rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Dorian LPG from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Dorian LPG in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.00.

Dorian LPG Stock Performance

Shares of Dorian LPG stock opened at $31.59 on Wednesday. Dorian LPG has a 12 month low of $16.66 and a 12 month high of $38.40. The firm has a market capitalization of $1.35 billion, a P/E ratio of 11.12 and a beta of 0.53. The company has a current ratio of 2.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $31.19 and a two-hundred day simple moving average of $28.93.

Dorian LPG (NYSE:LPG) last issued its quarterly 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). Dorian LPG had a net margin of 29.88% and a return on equity of 11.82%. The business had revenue of $118.23 million for the quarter, compared to analysts’ expectations of $115.15 million. During the same period last year, the business earned $0.43 earnings per share. The company’s revenue was up 48.7% on a year-over-year basis. On average, equities analysts forecast that Dorian LPG 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. Stockholders of record on Monday, February 9th were issued a dividend of $0.70 per share. This represents a dividend yield of 881.0%. The ex-dividend date of this dividend was Monday, February 9th.

Insider Buying and Selling at Dorian LPG

In other Dorian LPG news, insider Tim Truels Hansen sold 25,000 shares of the business’s stock in a transaction 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 sale, the insider directly owned 212,842 shares in the company, valued at approximately $6,140,491.70. The trade was a 10.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John C. Hadjipateras purchased 15,000 shares of the stock in a transaction dated Wednesday, January 7th. The shares were purchased at an average cost of $27.30 per share, for a total transaction of $409,500.00. Following the completion of the acquisition, the chief executive officer directly owned 153,500 shares in the company, valued at approximately $4,190,550. This trade represents a 10.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Dorian LPG

A number of institutional investors and hedge funds have recently made changes to their positions in LPG. Dimensional Fund Advisors LP increased its holdings in Dorian LPG by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,493,668 shares of the shipping company’s stock valued at $74,312,000 after buying an additional 13,241 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 worth $45,635,000 after acquiring an additional 207,575 shares during the last quarter. American Century Companies Inc. grew its position 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 increased its stake in shares of Dorian LPG by 0.9% in the 4th 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted 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. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.