Dorian LPG (NYSE:LPG) Trading 5.7% Higher

Dorian LPG Ltd. (NYSE:LPG)’s stock price shot up 5.7% on Tuesday . The company traded as high as $36.43 and last traded at $36.38. 666,995 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 778,536 shares. The stock had previously closed at $34.42.

Analyst Upgrades and Downgrades

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

Dorian LPG Price Performance

The company has a 50 day moving average of $36.92 and a two-hundred day moving average of $40.28. The firm has a market cap of $1.46 billion, a P/E ratio of 4.53 and a beta of 0.99. The company has a quick ratio of 4.58, a current ratio of 4.60 and a debt-to-equity ratio of 0.48.

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

Dorian LPG Dividend Announcement

The business also recently declared a None dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were issued a $1.00 dividend. The ex-dividend date was Thursday, August 8th. Dorian LPG’s dividend payout ratio is currently 13.16%.

Insider Activity

In related news, COO Alexander C. Hadjipateras sold 2,500 shares of Dorian LPG stock in a transaction on 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 approximately $2,991,566.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of 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 acquiring an additional 697 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Dorian LPG by 49.0% during 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 purchasing an additional 12,153 shares during the period. Quarry LP lifted its holdings in shares of Dorian LPG by 57.8% in the second quarter. Quarry LP now owns 942 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 345 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Dorian LPG in the second quarter worth $651,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Dorian LPG by 2.3% during the second 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. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.