Dorian LPG (NYSE:LPG) Shares Gap Down – Here’s What Happened

Shares of Dorian LPG Ltd. (NYSE:LPG) gapped down before the market opened on Monday . The stock had previously closed at $45.32, but opened at $43.09. Dorian LPG shares last traded at $43.78, with a volume of 90,252 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LPG. Freedom Capital downgraded shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Wall Street Zen raised shares of Dorian LPG from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Pareto Securities restated a “buy” rating on shares of Dorian LPG in a research note on Thursday, May 21st. Dnb Carnegie upgraded shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Jefferies Financial Group lifted their price target on shares of Dorian LPG from $42.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

Dorian LPG Stock Performance

The business has a 50 day simple moving average of $41.28 and a 200 day simple moving average of $36.32. The company has a quick ratio of 2.65, a current ratio of 2.67 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.88 billion, a PE ratio of 9.66 and a beta of 0.66.

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

Dorian LPG Dividend Announcement

The company also recently announced a special dividend, which will be paid on Wednesday, August 12th. Investors of record on Monday, July 27th will be paid a $1.00 dividend. The ex-dividend date is Monday, July 27th. Dorian LPG’s dividend payout ratio (DPR) is 21.98%.

Insider Activity

In related news, Director Ted Kalborg sold 15,373 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $45.06, for a total transaction of $692,707.38. Following the completion of the transaction, the director owned 66,348 shares of the company’s stock, valued at $2,989,640.88. This trade represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tim Truels Hansen sold 20,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.38, for a total value of $707,600.00. Following the completion of the transaction, the insider directly owned 157,842 shares of the company’s stock, valued at approximately $5,584,449.96. This trade represents a 11.25% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Dorian LPG

Several large investors have recently made changes to their positions in LPG. Arrowstreet Capital Limited Partnership acquired a new position in shares of Dorian LPG in the first quarter worth about $11,929,000. AQR Capital Management LLC raised its holdings in shares of Dorian LPG by 236.7% during the second quarter. AQR Capital Management LLC now owns 425,478 shares of the shipping company’s stock valued at $10,373,000 after acquiring an additional 299,107 shares during the last quarter. Bank of America Corp DE raised its stake in Dorian LPG by 136.2% in the 2nd quarter. Bank of America Corp DE now owns 368,986 shares of the shipping company’s stock valued at $8,996,000 after purchasing an additional 212,787 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 buying an additional 207,575 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in Dorian LPG by 425.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 256,216 shares of the shipping company’s stock worth $7,635,000 after purchasing an additional 207,450 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.