Dorian LPG (NYSE:LPG) Upgraded to Hold at Dnb Carnegie

Dnb Carnegie upgraded shares of Dorian LPG (NYSE:LPG) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

Several other brokerages also recently commented on LPG. Wall Street Zen downgraded shares of Dorian LPG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 22nd. Jefferies Financial Group initiated coverage on shares of Dorian LPG in a research note on Friday, April 24th. They set a “buy” rating and a $42.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dorian LPG in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Dorian LPG presently has a consensus rating of “Hold” and a consensus target price of $42.00.

Dorian LPG Stock Performance

Shares of NYSE:LPG opened at $42.04 on Monday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 14.80 and a beta of 0.63. The company has a 50-day moving average price of $35.70 and a 200-day moving average price of $30.89. The company has a current ratio of 2.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.38. Dorian LPG has a 12 month low of $20.03 and a 12 month high of $42.30.

Dorian LPG Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 18th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, May 18th.

Insider Activity at Dorian LPG

In other news, CFO Theodore B. Young sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $34.84, for a total transaction 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 approximately $4,282,741.84. This represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Dorian LPG

A number of institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its stake in Dorian LPG by 14.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,590 shares of the shipping company’s stock worth $89,000 after buying an additional 318 shares in the last quarter. IHT Wealth Management LLC raised its stake in Dorian LPG by 2.1% in the fourth quarter. IHT Wealth Management LLC now owns 17,804 shares of the shipping company’s stock worth $433,000 after buying an additional 365 shares in the last quarter. WINTON GROUP Ltd raised its stake in Dorian LPG by 0.8% in the fourth quarter. WINTON GROUP Ltd now owns 44,640 shares of the shipping company’s stock worth $1,087,000 after buying an additional 373 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Dorian LPG by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 13,286 shares of the shipping company’s stock worth $324,000 after buying an additional 390 shares in the last quarter. Finally, CoreCap Advisors LLC raised its stake in Dorian LPG by 18.7% in the fourth quarter. CoreCap Advisors LLC now owns 3,269 shares of the shipping company’s stock worth $80,000 after buying an additional 514 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Dorian LPG Company Profile

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.