BidaskClub cut shares of Dorian LPG Ltd. (NYSE:LPG) from a sell rating to a strong sell rating in a report released on Tuesday, August 8th.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Dorian LPG from a strong sell rating to a hold rating in a report on Wednesday, June 21st. UBS AG set a $8.00 price objective on Dorian LPG and gave the company a buy rating in a report on Saturday, June 17th. ValuEngine upgraded Dorian LPG from a sell rating to a hold rating in a report on Saturday, July 22nd. Finally, Pareto Securities upgraded Dorian LPG from a hold rating to a buy rating and set a $10.00 target price for the company in a report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $10.00.
Dorian LPG (NYSE LPG) traded up 3.72% during mid-day trading on Tuesday, hitting $6.69. The stock had a trading volume of 138,648 shares. The stock’s market cap is $361.77 million. The stock’s 50-day moving average price is $7.54 and its 200-day moving average price is $8.88. Dorian LPG has a 12 month low of $5.07 and a 12 month high of $12.50.
Dorian LPG (NYSE:LPG) last posted its quarterly earnings data on Monday, July 31st. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.16). Dorian LPG had a negative return on equity of 4.16% and a negative net margin of 4.33%. The company had revenue of $41 million during the quarter, compared to analysts’ expectations of $37.65 million. During the same quarter in the previous year, the business earned $0.06 EPS. Dorian LPG’s revenue was down 17.6% compared to the same quarter last year. On average, analysts predict that Dorian LPG will post ($0.44) earnings per share for the current year.
In other news, insider John C. Hadjipateras sold 250,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $7.55, for a total value of $1,887,500.00. Following the completion of the transaction, the insider now directly owns 2,037,020 shares of the company’s stock, valued at approximately $15,379,501. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 26.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPG. HighTower Advisors LLC bought a new position in Dorian LPG during the first quarter valued at approximately $12,258,000. Royce & Associates LP raised its position in Dorian LPG by 41.7% in the second quarter. Royce & Associates LP now owns 1,044,831 shares of the shipping company’s stock valued at $8,547,000 after buying an additional 307,597 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Dorian LPG during the second quarter valued at approximately $2,487,000. Dimensional Fund Advisors LP raised its position in Dorian LPG by 29.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,331,436 shares of the shipping company’s stock valued at $14,020,000 after buying an additional 299,021 shares during the last quarter. Finally, Global X Management Co. LLC raised its position in Dorian LPG by 22.5% in the second quarter. Global X Management Co. LLC now owns 608,078 shares of the shipping company’s stock valued at $4,974,000 after buying an additional 111,551 shares during the last quarter. 48.38% of the stock is owned by hedge funds and other institutional investors.
About Dorian LPG
Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.
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