Wells Fargo & Company MN lowered its stake in Dorian LPG Ltd. (NYSE:LPG) by 60.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 17,405 shares of the shipping company’s stock after selling 26,126 shares during the quarter. Wells Fargo & Company MN’s holdings in Dorian LPG were worth $143,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. American International Group Inc. grew its stake in Dorian LPG by 7.1% in the 1st quarter. American International Group Inc. now owns 14,921 shares of the shipping company’s stock valued at $157,000 after acquiring an additional 987 shares during the period. Eagle Global Advisors LLC acquired a new stake in Dorian LPG in the 2nd quarter valued at $165,000. Seven Bridges Advisors LLC grew its stake in Dorian LPG by 48.5% in the 2nd quarter. Seven Bridges Advisors LLC now owns 24,974 shares of the shipping company’s stock valued at $204,000 after acquiring an additional 8,162 shares during the period. Strs Ohio acquired a new stake in Dorian LPG in the 2nd quarter valued at $581,000. Finally, Bank of New York Mellon Corp grew its stake in Dorian LPG by 17.7% in the 1st quarter. Bank of New York Mellon Corp now owns 73,254 shares of the shipping company’s stock valued at $772,000 after acquiring an additional 11,034 shares during the period. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Dorian LPG Ltd. (LPG) opened at $7.75 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.56. Dorian LPG Ltd. has a 1 year low of $6.20 and a 1 year high of $12.50.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings results on Friday, November 3rd. The shipping company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.02. The firm had revenue of $34.73 million for the quarter, compared to analysts’ expectations of $31.13 million. Dorian LPG had a negative net margin of 7.30% and a negative return on equity of 4.06%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.25) EPS. sell-side analysts expect that Dorian LPG Ltd. will post -0.66 earnings per share for the current year.

LPG has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research note on Friday, November 3rd. DNB Markets cut shares of Dorian LPG from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. ValuEngine raised shares of Dorian LPG from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, BidaskClub cut shares of Dorian LPG from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Dorian LPG currently has a consensus rating of “Hold” and an average target price of $8.75.

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Dorian LPG Profile

Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.

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Institutional Ownership by Quarter for Dorian LPG (NYSE:LPG)

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