Key Points
- Dorian LPG CFO Theodore Young sold 9,081 shares at an average price of $53.25, generating approximately $483,563. After the sale, he retained 124,713 shares, a 6.79% reduction in his holdings.
- The company reported strong quarterly results, with EPS of $2.52 beating estimates by $0.40 and revenue of $187.88 million rising 123.1% year over year. Dorian LPG also paid a $1.00 special dividend.
- Investor sentiment remains positive: analysts give the stock an average “Buy” rating with a $55.00 average price target, while institutional investors and hedge funds own 62.5% of shares.
Dorian LPG Ltd. (NYSE:LPG - Get Free Report) CFO Theodore Young sold 5,000 shares of the business's stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $54.01, for a total value of $270,050.00. Following the transaction, the chief financial officer directly owned 119,713 shares of the company's stock, valued at $6,465,699.13. The trade was a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Dorian LPG Price Performance
LPG stock opened at $53.54 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.26 and a quick ratio of 3.24. The firm has a market capitalization of $2.29 billion, a P/E ratio of 7.09 and a beta of 0.61. The business's 50-day moving average is $45.85 and its two-hundred day moving average is $40.59. Dorian LPG Ltd. has a 1 year low of $23.76 and a 1 year high of $55.28.
Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.40. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%.The business had revenue of $187.88 million during the quarter, compared to analysts' expectations of $160.78 million. During the same quarter last year, the business posted $0.27 EPS. The business's quarterly revenue was up 123.1% compared to the same quarter last year.
Dorian LPG Announces Dividend
The company also recently declared a special dividend, which was paid on Wednesday, August 12th. Investors of record on Monday, July 27th were paid a $1.00 dividend. The ex-dividend date was Monday, July 27th.
Hedge Funds Weigh In On Dorian LPG
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPG. Public Employees Retirement System of Ohio purchased a new position in Dorian LPG in the second quarter valued at approximately $37,000. KBC Group NV purchased a new stake in shares of Dorian LPG during the 1st quarter worth approximately $38,000. Allworth Financial LP lifted its position in shares of Dorian LPG by 65.9% during the 2nd quarter. Allworth Financial LP now owns 1,206 shares of the shipping company's stock worth $42,000 after buying an additional 479 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Dorian LPG during the 3rd quarter worth approximately $41,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Dorian LPG by 1,003.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company's stock valued at $32,000 after buying an additional 1,315 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Dorian LPG from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 25th. Freedom Capital upgraded shares of Dorian LPG from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Dorian LPG in a research note on Tuesday, August 25th. Pareto Securities reissued a "buy" rating on shares of Dorian LPG in a report on Thursday, May 21st. Finally, Jefferies Financial Group raised their price target on Dorian LPG from $42.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $55.00.
Check Out Our Latest Report on Dorian LPG
Dorian LPG Company Profile
(
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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