Dorian LPG Ltd. (LPG) Hits New 1-Year Low at $6.78
Dorian LPG Ltd. (NYSE:LPG)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $6.78 and last traded at $6.79, with a volume of 66,496 shares traded. The stock had previously closed at $6.90.
A number of brokerages have issued reports on LPG. Zacks Investment Research cut shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 31st. ABN Amro cut shares of Dorian LPG from a “buy” rating to a “hold” rating in a report on Thursday, June 30th.
The firm’s 50 day moving average price is $7.58 and its 200-day moving average price is $9.39. The firm has a market cap of $372.57 million and a P/E ratio of 2.95.
Dorian LPG (NYSE:LPG) last released its earnings results on Tuesday, May 31st. The company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The firm had revenue of $85.30 million for the quarter, compared to analyst estimates of $84.18 million. Dorian LPG’s revenue for the quarter was up 141.6% on a year-over-year basis. Equities analysts forecast that Dorian LPG Ltd. will post $1.26 EPS for the current year.
In other news, CEO John C. Hadjipateras bought 20,000 shares of the business’s stock in a transaction on Wednesday, June 29th. The stock was purchased at an average price of $7.39 per share, with a total value of $147,800.00. Following the transaction, the chief executive officer now directly owns 2,279,744 shares in the company, valued at $16,847,308.16. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its position in Dorian LPG by 50.4% in the fourth quarter. GSA Capital Partners LLP now owns 146,407 shares of the company’s stock worth $1,723,000 after buying an additional 49,055 shares in the last quarter. Royce & Associates LLC raised its position in Dorian LPG by 72.7% in the fourth quarter. Royce & Associates LLC now owns 213,734 shares of the company’s stock worth $2,516,000 after buying an additional 90,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Dorian LPG by 178.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 444,342 shares of the company’s stock worth $5,229,000 after buying an additional 284,603 shares in the last quarter.
Dorian LPG Ltd is a pure-play liquefied petroleum gas (LPG) shipping company, based in the Marshall Islands. The Company operates three very large gas carriers (VLGC) and one pressurized LPG vessel. Additionally, it contracts for 16 fuel-efficient VLGC newbuildings, with deliveries scheduled for 2014 and 2015.
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