Dorian LPG (NYSE:LPG) Trading Down 4.9% – Here’s What Happened

Dorian LPG Ltd. (NYSE:LPG)’s stock price traded down 4.9% on Tuesday . The stock traded as low as $53.80 and last traded at $53.8650. Approximately 329,489 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 606,385 shares. The stock had previously closed at $56.64.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LPG shares. Weiss Ratings restated a “buy (b-)” rating on shares of Dorian LPG in a report on Tuesday, August 25th. Wall Street Zen upgraded Dorian LPG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Finally, Freedom Capital raised Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $55.00.

Dorian LPG Stock Down 4.7%

The business’s 50 day moving average price is $48.73 and its 200-day moving average price is $41.75. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26. The firm has a market capitalization of $2.31 billion, a PE ratio of 7.17 and a beta of 0.61.

Dorian LPG (NYSE:LPG) last posted its earnings results 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 net margin of 55.00% and a return on equity of 25.69%. The firm’s revenue for the quarter was up 123.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS.

Dorian LPG Dividend Announcement

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

Insider Activity

In related news, COO Alexander Hadjipateras sold 5,000 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $54.13, for a total value of $270,650.00. Following the sale, the chief operating officer owned 95,836 shares in the company, valued at approximately $5,187,602.68. The trade was a 4.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Theodore Young sold 11,919 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $54.50, for a total value of $649,585.50. Following the transaction, the chief financial officer directly owned 107,794 shares in the company, valued at approximately $5,874,773. The trade was a 9.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 126,000 shares of company stock valued at $6,163,449. 13.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Dorian LPG by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,549,771 shares of the shipping company’s stock worth $87,199,000 after buying an additional 73,754 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Dorian LPG in the 1st quarter valued at approximately $11,929,000. Allspring Global Investments Holdings LLC grew its stake in shares of Dorian LPG by 227.7% in the first 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 in the last quarter. Empowered Funds LLC increased its position in shares of Dorian LPG by 117.5% during the first 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. increased its position in shares of Dorian LPG by 2,540.0% during the first 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.