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

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

Several other research firms also recently issued reports on LPG. Freedom Capital raised Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Dorian LPG in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $55.00.

Dorian LPG Stock Performance

LPG opened at $54.25 on Friday. The stock has a market cap of $2.32 billion, a P/E ratio of 7.18 and a beta of 0.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.26 and a quick ratio of 3.24. The stock’s 50 day simple moving average is $49.93 and its 200 day simple moving average is $42.40. Dorian LPG has a 1-year low of $23.76 and a 1-year high of $59.97.

Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.40. The firm had revenue of $187.88 million during the quarter, compared to the consensus estimate of $160.78 million. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%.Dorian LPG’s quarterly revenue was up 123.1% on a year-over-year basis. During the same period last year, the business posted $0.27 EPS.

Dorian LPG Dividend Announcement

The company also recently declared a special dividend, which was paid on Wednesday, August 12th. Shareholders of record on Monday, July 27th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, July 27th.

Insider Activity at Dorian LPG

In other Dorian LPG news, COO Alexander C. Hadjipateras sold 5,000 shares of Dorian LPG stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $54.13, for a total value of $270,650.00. Following the completion of the sale, the chief operating officer directly owned 95,836 shares of the company’s stock, valued at approximately $5,187,602.68. The trade was a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Theodore B. Young sold 11,919 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $54.50, for a total value of $649,585.50. Following the completion of the transaction, the chief financial officer owned 107,794 shares of the company’s stock, valued at $5,874,773. This trade represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 106,000 shares of company stock valued at $5,455,849. Company insiders own 13.50% of the company’s stock.

Institutional Investors Weigh In On Dorian LPG

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in Dorian LPG by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,549,771 shares of the shipping company’s stock valued at $87,199,000 after buying an additional 73,754 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Dorian LPG during the 1st quarter valued at about $11,929,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Dorian LPG by 227.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 215,568 shares of the shipping company’s stock worth $7,247,000 after acquiring an additional 149,787 shares during the period. Empowered Funds LLC lifted its holdings in shares of Dorian LPG by 117.5% during the 1st quarter. Empowered Funds LLC now owns 197,030 shares of the shipping company’s stock worth $6,738,000 after acquiring an additional 106,428 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Dorian LPG by 2,540.0% during the 1st quarter. Pacer Advisors Inc. now owns 190,446 shares of the shipping company’s stock worth $6,513,000 after acquiring an additional 183,232 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Dorian LPG Company Profile

Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates very large gas carriers (VLGCs). The company primarily transports liquefied petroleum gas (LPG), including propane and butane, for energy producers, commodity traders and other customers in international markets.

Dorian LPG’s fleet is designed for the ocean transportation of LPG between major exporting and importing regions. Its vessels support global trade routes linking LPG-producing areas, including the United States and the Middle East, with demand centers in Asia, Europe and other regions.