Dorian LPG Ltd. (LPG) Shares Down 3.4%
Dorian LPG Ltd. (NYSE:LPG)’s share price dropped 3.4% during trading on Tuesday . The stock traded as low as $5.32 and last traded at $5.37, with a volume of 69,706 shares trading hands. The stock had previously closed at $5.56.
LPG has been the topic of several recent analyst reports. ABN Amro downgraded Dorian LPG from a “buy” rating to a “hold” rating in a report on Thursday, June 30th. Zacks Investment Research raised Dorian LPG from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 3rd.
The stock has a market capitalization of $306.03 million, a price-to-earnings ratio of 2.7692 and a beta of 1.06. The firm’s 50-day moving average price is $5.85 and its 200 day moving average price is $8.06.
Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.05. The company had revenue of $50.50 million for the quarter, compared to the consensus estimate of $34.90 million. Dorian LPG had a return on equity of 13.85% and a net margin of 37.74%. Dorian LPG’s quarterly revenue was up 54.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 earnings per share. On average, equities analysts forecast that Dorian LPG Ltd. will post ($0.11) EPS for the current year.
In related news, CEO John C. Hadjipateras acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, June 29th. The stock was purchased at an average cost of $7.39 per share, for a total transaction of $147,800.00. Following the purchase, the chief executive officer now directly owns 2,279,744 shares in the company, valued at $16,847,308.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 26.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Dorian LPG by 6.7% in the first quarter. Wellington Management Group LLP now owns 5,693,622 shares of the company’s stock valued at $53,520,000 after buying an additional 359,411 shares during the period. Geode Capital Management LLC raised its stake in shares of Dorian LPG by 7.3% in the first quarter. Geode Capital Management LLC now owns 26,921 shares of the company’s stock valued at $253,000 after buying an additional 1,821 shares during the period. Barclays PLC raised its stake in shares of Dorian LPG by 441.3% in the first quarter. Barclays PLC now owns 184,600 shares of the company’s stock valued at $1,661,000 after buying an additional 150,500 shares during the period. Robotti Robert raised its stake in shares of Dorian LPG by 3.1% in the first quarter. Robotti Robert now owns 25,775 shares of the company’s stock valued at $242,000 after buying an additional 775 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Dorian LPG by 83.3% in the first quarter. Goldman Sachs Group Inc. now owns 21,912 shares of the company’s stock valued at $206,000 after buying an additional 9,958 shares during the period. Institutional investors own 47.99% of the company’s stock.
About Dorian LPG
Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.
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