Dorian LPG (NYSE:LPG) Sets New 12-Month Low – Here’s Why

Shares of Dorian LPG Ltd. (NYSE:LPG) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $29.80 and last traded at $29.80, with a volume of 36470 shares changing hands. The stock had previously closed at $30.35.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “buy” rating and set a $42.00 target price on shares of Dorian LPG in a research report on Thursday.

Dorian LPG Stock Performance

The stock has a market capitalization of $1.23 billion, a P/E ratio of 3.81 and a beta of 0.98. The company has a quick ratio of 4.58, a current ratio of 4.60 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $34.63 and a two-hundred day moving average price of $39.35.

Dorian LPG (NYSE:LPG) last posted its earnings results on Thursday, August 1st. The shipping company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.23. Dorian LPG had a net margin of 54.48% and a return on equity of 30.64%. The business had revenue of $114.30 million for the quarter, compared to analyst estimates of $113.70 million. During the same quarter in the prior year, the firm posted $1.21 EPS. Dorian LPG’s revenue was up 2.4% on a year-over-year basis. Equities analysts expect that Dorian LPG Ltd. will post 3.93 earnings per share for the current year.

Dorian LPG Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, November 25th. Stockholders of record on Tuesday, November 5th will be issued a $1.00 dividend. The ex-dividend date is Tuesday, November 5th.

Insider Activity at Dorian LPG

In other Dorian LPG news, COO Alexander C. Hadjipateras sold 2,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $36.12, for a total value of $90,300.00. Following the transaction, the chief operating officer now directly owns 82,823 shares in the company, valued at $2,991,566.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dorian LPG

A number of institutional investors have recently made changes to their positions in LPG. Beacon Capital Management LLC bought a new position in Dorian LPG in the first quarter valued at $27,000. Quarry LP increased its position in shares of Dorian LPG by 57.8% during the 2nd quarter. Quarry LP now owns 942 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 345 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Dorian LPG by 60.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,050 shares of the shipping company’s stock valued at $44,000 after buying an additional 395 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in Dorian LPG by 126.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,247 shares of the shipping company’s stock worth $52,000 after buying an additional 697 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Dorian LPG by 26.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,821 shares of the shipping company’s stock worth $80,000 after buying an additional 379 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Dorian LPG Company Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.