Dorian LPG (NYSE:LPG) Hits New 12-Month High – Here’s Why

Dorian LPG Ltd. (NYSE:LPG) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $35.98 and last traded at $35.7950, with a volume of 176577 shares. The stock had previously closed at $35.14.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LPG. Weiss Ratings reissued a “hold (c)” rating on shares of Dorian LPG in a research report on Monday, December 29th. Pareto Securities cut Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Wall Street Zen downgraded Dorian LPG from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Dnb Carnegie raised Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Dorian LPG has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Dorian LPG Trading Up 2.4%

The business has a 50-day moving average price of $28.74 and a 200-day moving average price of $28.54. The company has a quick ratio of 2.40, a current ratio of 2.41 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.54 billion, a P/E ratio of 12.67 and a beta of 0.58.

Dorian LPG (NYSE:LPG) last issued its earnings results on Thursday, February 5th. The shipping company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.06). The firm had revenue of $118.23 million during the quarter, compared to the consensus estimate of $115.15 million. Dorian LPG had a return on equity of 11.82% and a net margin of 29.88%.The firm’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same period last year, the business earned $0.43 earnings per share. Analysts anticipate that Dorian LPG Ltd. will post 2.6 earnings per share for the current year.

Dorian LPG Dividend Announcement

The business also recently announced a special dividend, which was paid on Tuesday, February 24th. Shareholders of record on Monday, February 9th were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a yield of 881.0%.

Insider Buying and Selling at Dorian LPG

In other news, insider Tim Truels Hansen sold 25,000 shares of Dorian LPG stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $28.85, for a total value of $721,250.00. Following the completion of the transaction, the insider owned 212,842 shares of the company’s stock, valued at $6,140,491.70. This trade represents a 10.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John C. Hadjipateras bought 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were acquired at an average cost of $27.30 per share, for a total transaction of $409,500.00. Following the completion of the acquisition, the chief executive officer directly owned 153,500 shares in the company, valued at $4,190,550. The trade was a 10.83% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Dorian LPG

Several institutional investors and hedge funds have recently modified their holdings of LPG. Invesco Ltd. raised its position in Dorian LPG by 59.3% during the fourth quarter. Invesco Ltd. now owns 466,511 shares of the shipping company’s stock valued at $11,355,000 after purchasing an additional 173,621 shares in the last quarter. Summit Global Investments bought a new stake in shares of Dorian LPG in the 4th quarter valued at $414,000. Vident Advisory LLC increased its position in Dorian LPG by 21.2% in the 4th quarter. Vident Advisory LLC now owns 25,363 shares of the shipping company’s stock valued at $617,000 after buying an additional 4,445 shares in the last quarter. nVerses Capital LLC acquired a new stake in Dorian LPG in the 4th quarter valued at $280,000. Finally, VARCOV Co. bought a new stake in shares of Dorian LPG in the 4th quarter worth $924,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Dorian LPG Company Profile

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.