Dorian LPG (NYSE:LPG) Trading Up 9.9% – Here’s What Happened

Dorian LPG Ltd. (NYSE:LPG) shares rose 9.9% during trading on Monday . The company traded as high as $19.28 and last traded at $19.05. Approximately 271,078 shares changed hands during trading, a decline of 61% from the average daily volume of 695,007 shares. The stock had previously closed at $17.34.

Analysts Set New Price Targets

LPG has been the subject of several research analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $35.00 price objective on shares of Dorian LPG in a report on Friday, January 31st. Pareto Securities raised Dorian LPG to a “buy” rating in a report on Tuesday, February 4th.

Dorian LPG Trading Up 10.7 %

The stock has a market cap of $822.01 million, a price-to-earnings ratio of 4.89 and a beta of 0.67. The business has a fifty day simple moving average of $22.33 and a 200 day simple moving average of $25.93. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.95 and a current ratio of 3.97.

Dorian LPG (NYSE:LPG) last released its earnings results on Friday, January 31st. The shipping company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. Dorian LPG had a net margin of 38.51% and a return on equity of 15.14%. During the same period last year, the business posted $2.62 EPS. As a group, equities analysts anticipate that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, February 27th. Investors of record on Wednesday, February 5th were issued a $0.70 dividend. The ex-dividend date was Wednesday, February 5th. Dorian LPG’s payout ratio is 25.45%.

Institutional Investors Weigh In On Dorian LPG

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Dorian LPG by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 471,768 shares of the shipping company’s stock worth $16,238,000 after purchasing an additional 34,344 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Dorian LPG by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 197,574 shares of the shipping company’s stock worth $6,800,000 after acquiring an additional 25,343 shares in the last quarter. Barclays PLC boosted its holdings in Dorian LPG by 392.6% in the 3rd quarter. Barclays PLC now owns 62,935 shares of the shipping company’s stock worth $2,167,000 after acquiring an additional 50,160 shares during the period. State Street Corp grew its position in Dorian LPG by 3.6% in the third quarter. State Street Corp now owns 1,357,420 shares of the shipping company’s stock valued at $46,722,000 after acquiring an additional 47,780 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Dorian LPG by 10.3% in the fourth quarter. Victory Capital Management Inc. now owns 180,701 shares of the shipping company’s stock valued at $4,404,000 after acquiring an additional 16,947 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Dorian LPG Company Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.