Key Points
- Insider sale: Tim Hansen sold 50,000 Dorian LPG shares for approximately $2.66 million, reducing his ownership by 31.71% to 107,675 shares. He also sold shares in August and June.
- Strong financial performance: Dorian LPG reported quarterly EPS of $2.52, surpassing estimates of $2.12, while revenue rose 123.1% year over year to $187.88 million. The company also paid a special $1.00 dividend.
- Positive market outlook: Shares opened at $55.19, near their 52-week high, and analysts give the stock an average “Buy” rating with a $55 price target; institutional investors own 62.5% of the shares.
Dorian LPG Ltd. (NYSE:LPG - Get Free Report) COO Alexander Hadjipateras sold 5,000 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.13, for a total transaction of $270,650.00. Following the completion of the sale, the chief operating officer owned 95,836 shares in the company, valued at approximately $5,187,602.68. This trade represents a 4.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Dorian LPG Stock Performance
Shares of LPG stock opened at $55.19 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26. Dorian LPG Ltd. has a one year low of $23.76 and a one year high of $55.49. The company's 50-day simple moving average is $46.59 and its 200-day simple moving average is $40.83. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 7.31 and a beta of 0.61.
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 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 firm had revenue of $187.88 million during the quarter, compared to analyst estimates of $160.78 million. During the same period in the previous year, the company earned $0.27 earnings per share. Dorian LPG's quarterly revenue was up 123.1% on a year-over-year basis.
Dorian LPG Announces Dividend
The company also recently announced a special dividend, which was paid on Wednesday, August 12th. Stockholders of record on Monday, July 27th were given a $1.00 dividend. The ex-dividend date was Monday, July 27th.
Analyst Upgrades and Downgrades
LPG has been the topic of several research reports. Dnb Carnegie raised Dorian LPG from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. Freedom Capital raised shares of Dorian LPG from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Dorian LPG from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 25th. Jefferies Financial Group increased their target price on shares of Dorian LPG from $42.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Finally, Pareto Securities restated a "buy" rating on shares of Dorian LPG in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $55.00.
Check Out Our Latest Stock Report on LPG
Hedge Funds Weigh In On Dorian LPG
Several institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Dorian LPG during the 2nd quarter worth approximately $37,000. KBC Group NV acquired a new position in Dorian LPG during the 1st quarter valued at approximately $38,000. Allworth Financial LP boosted its position in Dorian LPG by 65.9% during the 2nd quarter. Allworth Financial LP now owns 1,206 shares of the shipping company's stock valued at $42,000 after purchasing an additional 479 shares during the period. Sunbelt Securities Inc. acquired a new position in Dorian LPG during the 3rd quarter valued at approximately $41,000. Finally, NewEdge Advisors LLC grew its stake in Dorian LPG by 1,003.8% during the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company's stock worth $32,000 after buying an additional 1,315 shares during the last quarter. 62.50% of the stock is owned by institutional investors.
About Dorian LPG
(
Get Free Report)
Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates very large gas carriers (VLGCs). The company primarily transports liquefied petroleum gas (LPG), including propane and butane, for energy producers, commodity traders and other customers in international markets.
Dorian LPG's fleet is designed for the ocean transportation of LPG between major exporting and importing regions. Its vessels support global trade routes linking LPG-producing areas, including the United States and the Middle East, with demand centers in Asia, Europe and other regions.
Further Reading
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