Dorian LPG (NYSE:LPG) Reaches New 52-Week High – Time to Buy?

Dorian LPG Ltd. (NYSE:LPG) shares reached a new 52-week high on Monday . The stock traded as high as $39.63 and last traded at $39.4550, with a volume of 42400 shares. The stock had previously closed at $39.18.

Wall Street Analyst Weigh In

LPG has been the subject of a number of analyst reports. Dnb Carnegie cut shares of Dorian LPG from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dorian LPG in a research report on Wednesday, April 22nd. Wall Street Zen downgraded Dorian LPG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 22nd. Finally, Jefferies Financial Group started coverage on Dorian LPG in a report on Friday, April 24th. They set a “buy” rating and a $42.00 price objective for the company. One 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. According to MarketBeat.com, Dorian LPG presently has an average rating of “Hold” and an average price target of $42.00.

Dorian LPG Stock Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.40 and a current ratio of 2.41. The stock has a market cap of $1.71 billion, a P/E ratio of 14.09 and a beta of 0.63. The company’s 50 day moving average price is $34.94 and its 200-day moving average price is $30.06.

Dorian LPG (NYSE:LPG) last released its quarterly earnings results on Wednesday, February 4th. The shipping company reported $1.11 earnings per share 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 firm had revenue of $119.96 million for the quarter, compared to the consensus estimate of $115.15 million. During the same period in the previous year, the business earned $0.43 earnings per share. The firm’s revenue for the quarter was up 48.7% on a year-over-year basis.

Insider Buying and Selling at Dorian LPG

In other news, CFO Theodore B. Young sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $34.84, for a total value of $348,400.00. Following the completion of the transaction, the chief financial officer directly owned 122,926 shares of the company’s stock, valued at $4,282,741.84. This represents a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Dorian LPG

Several large investors have recently made changes to their positions in LPG. NewEdge Advisors LLC boosted its holdings in shares of Dorian LPG by 1,003.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock worth $32,000 after buying an additional 1,315 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Dorian LPG by 429.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company’s stock worth $40,000 after buying an additional 1,340 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Dorian LPG in the third quarter worth about $41,000. Sunbelt Securities Inc. bought a new stake in Dorian LPG in the third quarter worth about $41,000. Finally, Citizens National Bank Trust Department purchased a new position in Dorian LPG in the third quarter valued at about $45,000. 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.