Dorian LPG (NYSE:LPG) Shares Gap Down – Here’s What Happened

Shares of Dorian LPG Ltd. (NYSE:LPG) gapped down before the market opened on Wednesday . The stock had previously closed at $50.79, but opened at $48.89. Dorian LPG shares last traded at $47.8660, with a volume of 88,528 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LPG. Freedom Capital upgraded shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Wall Street Zen raised shares of Dorian LPG from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Jefferies Financial Group lifted their target price on shares of Dorian LPG from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Dnb Carnegie raised shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Pareto Securities reaffirmed a “buy” rating on shares of Dorian LPG in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Dorian LPG currently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

Dorian LPG Stock Performance

The business’s fifty day simple moving average is $42.78 and its 200-day simple moving average is $39.12. The firm has a market cap of $2.04 billion, a P/E ratio of 6.32 and a beta of 0.65. The company has a current ratio of 3.26, a quick ratio of 3.24 and a debt-to-equity ratio of 0.28.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.12 by $0.40. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The firm had revenue of $187.88 million during the quarter, compared to the consensus estimate of $160.78 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up 123.1% compared to the same quarter last year.

Dorian LPG Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, August 12th. Investors of record on Monday, July 27th were issued a dividend of $1.00 per share. The ex-dividend date was Monday, July 27th. Dorian LPG’s dividend payout ratio is currently 13.25%.

Insider Buying and Selling

In related news, insider Tim Truels Hansen sold 25,000 shares of Dorian LPG stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $45.04, for a total value of $1,126,000.00. Following the sale, the insider owned 157,675 shares in the company, valued at $7,101,682. The trade was a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Dorian LPG

Several institutional investors and hedge funds have recently modified their holdings of LPG. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Dorian LPG during the 2nd quarter valued at about $1,478,000. California State Teachers Retirement System raised its stake in Dorian LPG by 3,299.8% in the second quarter. California State Teachers Retirement System now owns 1,765,641 shares of the shipping company’s stock worth $61,409,000 after buying an additional 1,713,708 shares in the last quarter. BTG Pactual Asset Management US LLC purchased a new stake in Dorian LPG in the second quarter worth about $234,000. Navellier & Associates Inc. purchased a new stake in Dorian LPG in the second quarter worth about $2,158,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Dorian LPG during the 2nd quarter valued at approximately $37,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.