Dorian LPG (NYSE:LPG) Stock Price Down 4%

Dorian LPG Ltd. (NYSE:LPG) shares fell 4% during mid-day trading on Wednesday . The company traded as low as $33.14 and last traded at $33.50. 236,146 shares changed hands during trading, a decline of 70% from the average session volume of 779,965 shares. The stock had previously closed at $34.89.

Analysts Set New Price Targets

Separately, DNB Markets upgraded shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, July 3rd.

Dorian LPG Trading Down 4.7 %

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 firm’s 50 day simple moving average is $37.38 and its 200-day simple moving average is $40.39. The company has a market capitalization of $1.42 billion, a PE ratio of 4.37 and a beta of 0.99.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.23. The firm had revenue of $114.30 million for the quarter, compared to analysts’ expectations of $113.70 million. Dorian LPG had a net margin of 54.48% and a return on equity of 30.64%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. As a group, equities research analysts anticipate that Dorian LPG Ltd. will post 4.94 EPS for the current year.

Dorian LPG Announces Dividend

The firm also recently announced a None dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 8th. Dorian LPG’s dividend payout ratio (DPR) is 13.16%.

Insiders Place Their Bets

In other Dorian LPG news, COO Alexander C. Hadjipateras sold 2,500 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $36.12, for a total transaction of $90,300.00. Following the sale, the chief operating officer now directly owns 82,823 shares of the company’s stock, valued at $2,991,566.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.90% of the stock is owned by corporate insiders.

Institutional Trading of Dorian LPG

A number of large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. grew 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 valued at $52,000 after buying an additional 697 shares in the last quarter. Point72 Asset Management L.P. grew its position in Dorian LPG by 49.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 36,953 shares of the shipping company’s stock valued at $1,551,000 after buying an additional 12,153 shares in the last quarter. Quarry LP grew its position in Dorian LPG by 57.8% in the 2nd quarter. Quarry LP now owns 942 shares of the shipping company’s stock valued at $40,000 after buying an additional 345 shares in the last quarter. Mackenzie Financial Corp bought a new position in Dorian LPG in the 2nd quarter valued at about $651,000. Finally, The Manufacturers Life Insurance Company grew its position in Dorian LPG by 2.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,511 shares of the shipping company’s stock valued at $735,000 after buying an additional 389 shares in the last quarter. Institutional investors and hedge funds 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 (LPG) through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers (VLGCs). The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.