Dorian LPG (NYSE:LPG) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Dorian LPG (NYSE:LPG) from a strong-buy rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the company. Weiss Ratings restated a “buy (b-)” rating on shares of Dorian LPG in a research report on Tuesday, August 25th. Freedom Capital raised shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $55.00.

Dorian LPG Price Performance

LPG stock opened at $45.94 on Friday. The company’s 50-day moving average price is $54.09 and its two-hundred day moving average price is $42.53. The firm has a market cap of $1.97 billion, a P/E ratio of 7.24 and a beta of 0.64. The company has a quick ratio of 3.24, a current ratio of 3.26 and a debt-to-equity ratio of 0.28. Dorian LPG has a 12 month low of $23.76 and a 12 month high of $59.97.

Dorian LPG (NYSE:LPG) last posted its earnings results on Thursday, November 5th. The shipping company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.61. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The firm had revenue of $221.35 million for the quarter, compared to analysts’ expectations of $194.90 million. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The company’s revenue was up 78.4% on a year-over-year basis.

Dorian LPG Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, November 9th will be issued a dividend of $1.25 per share. The ex-dividend date is Monday, November 9th.

Insider Buying and Selling at Dorian LPG

In other news, COO Alexander C. Hadjipateras sold 5,000 shares of Dorian LPG 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 transaction, the chief operating officer directly owned 95,836 shares in the company, valued at $5,187,602.68. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tim Hansen sold 50,000 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $53.12, for a total transaction of $2,656,000.00. Following the sale, the insider directly owned 107,675 shares of the company’s stock, valued at approximately $5,719,696. The trade was a 31.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 81,000 shares of company stock valued at $4,329,849. Corporate insiders own 13.50% of the company’s stock.

Hedge Funds Weigh In On Dorian LPG

A number of hedge funds have recently added to or reduced their stakes in LPG. Bessemer Group Inc. raised its stake in shares of Dorian LPG by 844.7% in the third quarter. Bessemer Group Inc. now owns 444 shares of the shipping company’s stock worth $25,000 after purchasing an additional 397 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Dorian LPG by 80.3% in the third quarter. Sterling Capital Management LLC now owns 941 shares of the shipping company’s stock valued at $52,000 after purchasing an additional 419 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Dorian LPG in the second quarter valued at approximately $37,000. KBC Group NV purchased a new position in shares of Dorian LPG during the first quarter valued at approximately $38,000. Finally, Allworth Financial LP boosted its position in shares of Dorian LPG by 65.9% during the second quarter. Allworth Financial LP now owns 1,206 shares of the shipping company’s stock valued at $42,000 after buying an additional 479 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Dorian LPG Company Profile

Dorian LPG Ltd. is an international shipping company focused on the seaborne transportation of liquefied petroleum gas (LPG). It owns and operates very large gas carriers (VLGCs), which move LPG between production centers and markets around the world.

The company’s fleet includes vessels designed to carry LPG, including ships equipped with dual-fuel propulsion systems. Dorian LPG serves global trade routes connecting suppliers in regions such as the United States and the Middle East with customers in Asia, Europe and other markets.

Founded in 2013, Dorian LPG is headquartered in Stamford, Connecticut.