Key Points
- Insider sale: Dorian LPG insider Tim Truels Hansen sold 20,000 shares at an average price of $35.38, totaling about $707,600. After the sale, he still owned 157,842 shares, reducing his stake by 11.25%.
- Strong quarterly results: The company recently reported EPS of $1.89 and revenue of $153.27 million, both well above analyst expectations. Revenue also jumped 102% year over year.
- Dividend and valuation backdrop: Dorian LPG paid a special $1.00 dividend and currently trades with a low P/E ratio of 7.73. The stock was up 1.1% on the day noted in the article, with analysts maintaining a Moderate Buy consensus and a $55 average target price.
Dorian LPG Ltd. (NYSE:LPG - Get Free Report) insider Tim Truels Hansen sold 20,000 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.38, for a total transaction of $707,600.00. Following the completion of the transaction, the insider directly owned 157,842 shares in the company, valued at approximately $5,584,449.96. This represents a 11.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Dorian LPG Stock Up 1.1%
Shares of LPG opened at $35.17 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.67 and a quick ratio of 2.65. Dorian LPG Ltd. has a one year low of $23.76 and a one year high of $48.12. The company has a market cap of $1.50 billion, a P/E ratio of 7.73 and a beta of 0.62. The firm has a 50 day simple moving average of $40.58 and a two-hundred day simple moving average of $34.35.
Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 19th. The shipping company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.48. The business had revenue of $153.27 million during the quarter, compared to the consensus estimate of $128.87 million. Dorian LPG had a return on equity of 18.01% and a net margin of 40.22%.Dorian LPG's revenue for the quarter was up 102.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS.
Dorian LPG Announces Dividend
The company also recently declared a special dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were paid a $1.00 dividend. This represents a dividend yield of 951.0%. The ex-dividend date was Monday, May 18th. Dorian LPG's dividend payout ratio is presently 21.98%.
Analyst Ratings Changes
LPG has been the topic of a number of recent research reports. Pareto Securities reiterated a "buy" rating on shares of Dorian LPG in a report on Thursday, May 21st. Wall Street Zen upgraded shares of Dorian LPG from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 23rd. Weiss Ratings raised shares of Dorian LPG from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. Freedom Capital lowered shares of Dorian LPG from a "strong-buy" rating to a "hold" rating in a report on Friday, May 22nd. Finally, Dnb Carnegie raised Dorian LPG from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Dorian LPG presently has a consensus rating of "Moderate Buy" and an average target price of $55.00.
Check Out Our Latest Analysis on LPG
Hedge Funds Weigh In On Dorian LPG
Large investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new stake in Dorian LPG in the 1st quarter valued at $11,929,000. AQR Capital Management LLC raised its holdings in Dorian LPG by 236.7% during the second quarter. AQR Capital Management LLC now owns 425,478 shares of the shipping company's stock worth $10,373,000 after buying an additional 299,107 shares during the last quarter. Bank of America Corp DE lifted its stake 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 valued at $8,996,000 after buying an additional 212,787 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Dorian LPG by 12.4% in the fourth quarter. Vanguard Group Inc. now owns 1,874,907 shares of the shipping company's stock valued at $45,635,000 after buying an additional 207,575 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew 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 buying an additional 207,450 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.
Dorian LPG Company Profile
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Get Free Report)
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.
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