Dorian LPG (NYSE:LPG) Shares Gap Down to $44.81

Dorian LPG Ltd. (NYSE:LPG) gapped down before the market opened on Wednesday . The stock had previously closed at $44.81, but opened at $43.56. Dorian LPG shares last traded at $46.54, with a volume of 155,867 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LPG. StockNews.com cut shares of Dorian LPG from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Jefferies Financial Group raised their price objective on shares of Dorian LPG from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, DNB Markets lowered shares of Dorian LPG from a “buy” rating to a “hold” rating and set a $44.00 price objective on the stock. in a report on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.25.

Dorian LPG Stock Up 2.2 %

The company has a current ratio of 3.31, a quick ratio of 3.29 and a debt-to-equity ratio of 0.57. The firm’s 50 day simple moving average is $40.60 and its 200-day simple moving average is $40.19. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 5.95 and a beta of 1.07.

Dorian LPG Announces Dividend

The firm also recently declared a None dividend, which will be paid on Thursday, May 30th. Shareholders of record on Wednesday, May 8th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. Dorian LPG’s payout ratio is currently 26.56%.

Institutional Investors Weigh In On Dorian LPG

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Saxony Capital Management LLC increased its stake in Dorian LPG by 5.9% in the 1st quarter. Saxony Capital Management LLC now owns 5,572 shares of the shipping company’s stock valued at $214,000 after buying an additional 309 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Dorian LPG by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 29,842 shares of the shipping company’s stock worth $1,148,000 after purchasing an additional 375 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Dorian LPG by 26.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,821 shares of the shipping company’s stock worth $80,000 after purchasing an additional 379 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Dorian LPG by 4.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,301 shares of the shipping company’s stock worth $408,000 after purchasing an additional 391 shares during the last quarter. Finally, PSI Advisors LLC increased its stake in shares of Dorian LPG by 16.8% during the 1st quarter. PSI Advisors LLC now owns 3,125 shares of the shipping company’s stock worth $120,000 after purchasing an additional 450 shares during 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.