Dorian LPG (NYSE:LPG) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Dorian LPG Ltd. (NYSE:LPG)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $40.58 and traded as high as $41.23. Dorian LPG shares last traded at $39.8760, with a volume of 612,122 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on LPG shares. Freedom Capital lowered shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Wall Street Zen raised Dorian LPG from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Weiss Ratings upgraded Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Dnb Carnegie raised Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Pareto Securities restated a “buy” rating on shares of Dorian LPG in a report on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Dorian LPG Price Performance

The firm has a market capitalization of $1.54 billion, a P/E ratio of 7.90 and a beta of 0.62. The business’s fifty day moving average is $40.64 and its 200 day moving average is $34.06. The company has a current ratio of 2.67, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40.

Dorian LPG (NYSE:LPG) last issued its earnings results on Tuesday, May 19th. The shipping company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.48. The firm had revenue of $153.27 million during the quarter, compared to analysts’ expectations of $128.87 million. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The firm’s revenue for the quarter was up 102.0% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share.

Dorian LPG Announces Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a dividend yield of 951.0%.

Insider Activity

In other news, Director Ted Kalborg sold 15,373 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $45.06, for a total transaction of $692,707.38. Following the sale, the director directly owned 66,348 shares of the company’s stock, valued at $2,989,640.88. The trade was a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 13.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Dorian LPG

Institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership acquired a new stake in Dorian LPG during the 1st quarter worth about $11,929,000. AQR Capital Management LLC increased its position in shares of Dorian LPG by 236.7% in the second quarter. AQR Capital Management LLC now owns 425,478 shares of the shipping company’s stock worth $10,373,000 after acquiring an additional 299,107 shares in the last quarter. Bank of America Corp DE increased its position in shares of Dorian LPG by 136.2% in the second quarter. Bank of America Corp DE now owns 368,986 shares of the shipping company’s stock worth $8,996,000 after acquiring an additional 212,787 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Dorian LPG by 12.4% during the fourth quarter. Vanguard Group Inc. now owns 1,874,907 shares of the shipping company’s stock valued at $45,635,000 after acquiring an additional 207,575 shares during the period. Finally, Tudor Investment Corp ET AL raised its holdings in shares of Dorian LPG by 425.4% during the third quarter. Tudor Investment Corp ET AL now owns 256,216 shares of the shipping company’s stock valued at $7,635,000 after acquiring an additional 207,450 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Dorian LPG Company Profile

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG’s fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.