Dorian LPG (NYSE:LPG) Shares Gap Up – Here’s Why

Dorian LPG Ltd. (NYSE:LPG) shares gapped up before the market opened on Monday. The stock had previously closed at $53.43, but opened at $55.07. Dorian LPG shares last traded at $55.19, with a volume of 42,061 shares trading hands.

Wall Street Analyst Weigh In

LPG has been the subject of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dorian LPG in a research note on Tuesday, August 25th. Freedom Capital upgraded shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Dorian LPG from a “strong-buy” rating to a “buy” rating in a report on Saturday. 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’s stock. According to MarketBeat.com, Dorian LPG presently has a consensus rating of “Buy” and a consensus target price of $55.00.

Dorian LPG Stock Performance

The company has a market cap of $2.37 billion, a P/E ratio of 7.33 and a beta of 0.61. The firm has a 50 day moving average price of $49.71 and a 200-day moving average price of $42.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26.

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

Dorian LPG Dividend Announcement

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

Insider Buying and Selling at Dorian LPG

In other news, insider Tim Hansen sold 50,000 shares of Dorian LPG stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $53.12, for a total value of $2,656,000.00. Following the transaction, the insider owned 107,675 shares of the company’s stock, valued at $5,719,696. This trade represents a 31.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Theodore Young sold 11,919 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $54.50, for a total transaction of $649,585.50. Following the completion of the sale, the chief financial officer owned 107,794 shares of the company’s stock, valued at $5,874,773. The trade was a 9.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 126,000 shares of company stock worth $6,163,449 over the last 90 days. Insiders own 13.50% of the company’s stock.

Institutional Investors Weigh In On Dorian LPG

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in shares of Dorian LPG in the second quarter worth about $37,000. KBC Group NV bought a new stake in Dorian LPG during the 1st quarter valued at approximately $38,000. Allworth Financial LP boosted its stake in Dorian LPG by 65.9% during the 2nd quarter. Allworth Financial LP now owns 1,206 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 479 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Dorian LPG in the 2nd quarter valued at approximately $57,000. Finally, Hilton Head Capital Partners LLC bought a new position in Dorian LPG in the 4th quarter worth approximately $49,000. 62.50% of the stock is currently owned by institutional investors.

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.