Dorian LPG Ltd. (LPG) Reaches New 52-Week Low at $6.78
Dorian LPG Ltd. (NYSE:LPG)’s share price hit a new 52-week low during 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 commented on LPG. Zacks Investment Research cut Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 31st. ABN Amro cut Dorian LPG from a “buy” rating to a “hold” rating in a research note on Thursday, June 30th.
The company has a 50-day moving average price of $7.52 and a 200 day moving average price of $9.36. The company has a market cap of $369.26 million and a price-to-earnings ratio of 2.92.
Dorian LPG (NYSE:LPG) last released its earnings results on Tuesday, May 31st. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $84.18 million. The company’s quarterly revenue was up 141.6% compared to the same quarter last year. Equities analysts predict that Dorian LPG Ltd. will post $1.26 earnings per share for the current fiscal year.
In other Dorian LPG news, CEO John C. Hadjipateras bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The stock was purchased at an average price of $7.39 per share, for a total transaction of $147,800.00. Following the completion of the transaction, the chief executive officer now owns 2,279,744 shares of the company’s stock, valued at approximately $16,847,308.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP raised its position in shares of 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 during the last quarter. Royce & Associates LLC raised its position in shares of 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 during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of 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 during 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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