Dorian LPG Ltd. $LPG Shares Purchased by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in shares of Dorian LPG Ltd. (NYSE:LPG) by 117.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,030 shares of the shipping company’s stock after acquiring an additional 106,428 shares during the period. Empowered Funds LLC’s holdings in Dorian LPG were worth $6,738,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LPG. Lazard Asset Management LLC acquired a new stake in Dorian LPG in the 1st quarter valued at about $2,211,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Dorian LPG during the 1st quarter worth approximately $1,491,000. Renaissance Technologies LLC boosted its holdings in shares of Dorian LPG by 14.7% during the 1st quarter. Renaissance Technologies LLC now owns 82,600 shares of the shipping company’s stock worth $2,825,000 after purchasing an additional 10,600 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Dorian LPG during the 1st quarter worth approximately $11,929,000. Finally, Cetera Investment Advisers grew its position in shares of Dorian LPG by 7.0% in the first quarter. Cetera Investment Advisers now owns 32,150 shares of the shipping company’s stock valued at $1,100,000 after purchasing an additional 2,117 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analysts Set New Price Targets

LPG has been the subject of several recent research reports. Jefferies Financial Group increased their price target on Dorian LPG from $42.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Freedom Capital lowered Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Weiss Ratings upgraded Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Dnb Carnegie raised Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Wall Street Zen raised Dorian LPG from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.00.

Insiders Place Their Bets

In other news, Director Ted Kalborg sold 15,373 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $45.06, for a total value of $692,707.38. Following the transaction, the director owned 66,348 shares of the company’s stock, valued at $2,989,640.88. This represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tim Truels Hansen sold 20,000 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $35.38, for a total value of $707,600.00. Following the transaction, the insider owned 157,842 shares of the company’s stock, valued at approximately $5,584,449.96. This represents a 11.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 13.60% of the stock is owned by insiders.

Dorian LPG Stock Performance

Dorian LPG stock opened at $47.20 on Friday. The firm has a 50 day simple moving average of $41.34 and a 200-day simple moving average of $36.89. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 10.37 and a beta of 0.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.67 and a quick ratio of 2.65. Dorian LPG Ltd. has a 1-year low of $23.76 and a 1-year high of $48.12.

Dorian LPG (NYSE:LPG) last released its quarterly earnings results on Tuesday, May 19th. The shipping company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.41 by $0.48. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The firm had revenue of $153.27 million for the quarter, compared to analyst estimates of $128.87 million. During the same quarter in the previous year, the company earned $0.25 EPS. The business’s revenue for the quarter was up 102.0% compared to the same quarter last year.

Dorian LPG Announces Dividend

The firm also recently announced a special dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Monday, July 27th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, July 27th.

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.