Dorian LPG (NYSE:LPG) Upgraded at Dnb Carnegie

Dorian LPG (NYSE:LPG) was upgraded by stock analysts at Dnb Carnegie from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

LPG has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dorian LPG in a report on Wednesday, April 22nd. Wall Street Zen lowered Dorian LPG from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. Finally, Jefferies Financial Group assumed coverage on Dorian LPG in a report on Friday, April 24th. They issued a “buy” rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.00.

Dorian LPG Stock Up 2.9%

Shares of NYSE:LPG opened at $42.04 on Monday. Dorian LPG has a 1 year low of $20.03 and a 1 year high of $42.30. The business has a 50 day simple moving average of $35.70 and a two-hundred day simple moving average of $30.89. The firm has a market capitalization of $1.80 billion, a PE ratio of 14.80 and a beta of 0.63. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.41 and a quick ratio of 2.40.

Insiders Place Their Bets

In related news, CFO Theodore B. Young sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $34.84, for a total transaction of $348,400.00. Following the transaction, the chief financial officer directly owned 122,926 shares in the company, valued at $4,282,741.84. The trade was a 7.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 13.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dorian LPG

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Dorian LPG by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,549,771 shares of the shipping company’s stock valued at $87,199,000 after acquiring an additional 73,754 shares during the period. Vanguard Group Inc. increased its position in shares of Dorian LPG by 12.4% in the 4th 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. American Century Companies Inc. increased its position in shares of Dorian LPG by 6.2% in the 3rd quarter. American Century Companies Inc. now owns 1,697,048 shares of the shipping company’s stock valued at $50,572,000 after acquiring an additional 99,485 shares during the period. Geode Capital Management LLC increased its position in shares of Dorian LPG by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,116,702 shares of the shipping company’s stock valued at $27,184,000 after acquiring an additional 10,480 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Dorian LPG by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 678,899 shares of the shipping company’s stock valued at $16,524,000 after acquiring an additional 23,974 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

About Dorian LPG

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.