Dorian LPG Ltd. (LPG) Stock Price Down 7.6%
Shares of Dorian LPG Ltd. (NYSE:LPG) traded down 7.6% during mid-day trading on Tuesday . The company traded as low as $7.00 and last traded at $7.02, with a volume of 163,538 shares. The stock had previously closed at $7.60.
A number of analysts recently issued reports on the company. 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 shares of Dorian LPG from a “buy” rating to a “hold” rating in a research note on Thursday, June 30th.
The firm has a market capitalization of $396.86 million and a P/E ratio of 3.14. The firm has a 50-day moving average of $8.09 and a 200 day moving average of $9.70.
Dorian LPG (NYSE:LPG) last released its quarterly earnings results on Tuesday, May 31st. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $85.30 million for the quarter, compared to the consensus estimate of $84.18 million. The business’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 news, CEO John C. Hadjipateras purchased 20,000 shares of Dorian LPG stock in a transaction dated Wednesday, June 29th. The shares were bought at an average cost of $7.39 per share, for a total transaction of $147,800.00. Following the completion of the acquisition, the chief executive officer now owns 2,279,744 shares in the company, valued at approximately $16,847,308.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
An institutional investor recently raised its position in Dorian LPG stock. GSA Capital Partners LLP increased its position in Dorian LPG Ltd. (NYSE:LPG) by 50.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 146,407 shares of the company’s stock after buying an additional 49,055 shares during the period. GSA Capital Partners LLP owned about 0.26% of Dorian LPG worth $1,723,000 as of its most recent filing with the SEC.
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.