BW LPG (NYSE:BWLP) Shares Gap Down – What’s Next?

BW LPG Limited (NYSE:BWLP)’s share price gapped down prior to trading on Tuesday. The stock had previously closed at $22.21, but opened at $20.85. BW LPG shares last traded at $21.4690, with a volume of 138,306 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BWLP shares. Wall Street Zen cut BW LPG from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Pareto Securities upgraded BW LPG from a “hold” rating to a “buy” rating in a research report on Thursday, September 10th. Clarkson Capital raised BW LPG from a “neutral” rating to a “buy” rating in a research note on Thursday, August 20th. Finally, Weiss Ratings upgraded shares of BW LPG from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, BW LPG presently has an average rating of “Moderate Buy”.

BW LPG Price Performance

The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 7.32 and a beta of 1.05. The company has a 50 day simple moving average of $24.82 and a 200-day simple moving average of $20.53. The company has a current ratio of 1.44, a quick ratio of 1.18 and a debt-to-equity ratio of 0.32.

BW LPG (NYSE:BWLP) last posted its quarterly earnings data on Saturday, August 29th. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.38). The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $318.01 million. BW LPG had a return on equity of 22.48% and a net margin of 12.64%.

BW LPG Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 8th were paid a NOK 8.89 dividend. This represents a $35.57 annualized dividend and a yield of 165.2%. The ex-dividend date was Tuesday, September 8th. This is a positive change from BW LPG’s previous quarterly dividend of NOK 6.20. BW LPG’s dividend payout ratio (DPR) is presently 129.25%.

Hedge Funds Weigh In On BW LPG

Several hedge funds have recently made changes to their positions in BWLP. Arrowstreet Capital Limited Partnership bought a new stake in BW LPG during the first quarter worth about $9,646,000. Bank of America Corp DE acquired a new position in BW LPG during the second quarter valued at approximately $6,218,000. The Manufacturers Life Insurance Company bought a new position in BW LPG in the second quarter valued at approximately $6,073,000. Public Employees Retirement System of Ohio bought a new position in BW LPG in the second quarter valued at approximately $3,626,000. Finally, Legal & General Group Plc bought a new position in BW LPG in the second quarter valued at approximately $2,211,000.

About BW LPG

BW LPG Limited is a Singapore-based owner and operator of liquefied petroleum gas (LPG) carriers. The company transports LPG by sea, connecting producers with customers and markets around the world.

Its fleet includes very large gas carriers and other LPG vessels designed to carry large volumes of gas. BW LPG also provides LPG distribution services in India, extending its business beyond maritime transportation into the downstream supply chain.