Dorian LPG (NYSE:LPG) Reaches New 1-Year High – What’s Next?

Dorian LPG Ltd. (NYSE:LPG) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $40.98 and last traded at $40.2010, with a volume of 10061 shares. The stock had previously closed at $39.81.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Dorian LPG in a report on Friday, April 24th. They set a “buy” rating and a $42.00 price target for the company. Wall Street Zen downgraded Dorian LPG from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dorian LPG in a report on Wednesday, April 22nd. Finally, Dnb Carnegie downgraded Dorian LPG from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.00.

Dorian LPG Price Performance

The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 14.16 and a beta of 0.63. The company has a 50-day moving average of $35.34 and a 200-day moving average of $30.52. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.40 and a current ratio of 2.41.

Dorian LPG Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 18th will be given a $1.00 dividend. The ex-dividend date is Monday, May 18th.

Insider Transactions at Dorian LPG

In related news, CFO Theodore B. Young sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $34.84, for a total value of $348,400.00. Following the transaction, the chief financial officer owned 122,926 shares in the company, valued at $4,282,741.84. The trade was a 7.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 13.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dorian LPG

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its position in Dorian LPG by 14.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,590 shares of the shipping company’s stock worth $89,000 after purchasing an additional 318 shares during the period. Summit Global Investments increased its position in Dorian LPG by 36.8% during the 1st quarter. Summit Global Investments now owns 23,256 shares of the shipping company’s stock worth $795,000 after purchasing an additional 6,256 shares during the period. Dimensional Fund Advisors LP increased its position in Dorian LPG by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,549,771 shares of the shipping company’s stock worth $87,199,000 after purchasing an additional 73,754 shares during the period. KBC Group NV acquired a new position in Dorian LPG during the 1st quarter worth approximately $38,000. Finally, Allspring Global Investments Holdings LLC increased its position in Dorian LPG by 227.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 215,568 shares of the shipping company’s stock worth $7,247,000 after purchasing an additional 149,787 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

About Dorian LPG

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.