BW LPG (NYSE:BWLP) Shares Gap Up – Here’s Why

BW LPG Limited (NYSE:BWLP)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $11.94, but opened at $12.51. BW LPG shares last traded at $12.69, with a volume of 122,839 shares.

Analyst Upgrades and Downgrades

Separately, Pareto Securities raised BW LPG from a “hold” rating to a “buy” rating in a research report on Thursday.

BW LPG Trading Up 11.3 %

The company has a quick ratio of 1.16, a current ratio of 1.34 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $11.71 and a two-hundred day simple moving average of $13.68.

BW LPG (NYSE:BWLP) last posted its quarterly earnings data on Monday, December 2nd. The company reported $0.79 earnings per share for the quarter.

BW LPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 12th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 12.64%.

Hedge Funds Weigh In On BW LPG

A number of large investors have recently made changes to their positions in BWLP. Exchange Traded Concepts LLC lifted its position in shares of BW LPG by 30.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 28,301 shares of the company’s stock worth $321,000 after buying an additional 6,601 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in BW LPG by 98.0% in the 4th quarter. Avior Wealth Management LLC now owns 5,862 shares of the company’s stock worth $67,000 after purchasing an additional 2,902 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in BW LPG during the 3rd quarter valued at $476,000. XTX Topco Ltd boosted its holdings in BW LPG by 75.1% in the 3rd quarter. XTX Topco Ltd now owns 25,671 shares of the company’s stock valued at $370,000 after purchasing an additional 11,013 shares during the period. Finally, Jane Street Group LLC acquired a new stake in BW LPG in the 3rd quarter worth $305,000.

About BW LPG

BW LPG Limited, an investment holding company, engages in ship owning and chartering activities worldwide. The company operates through Shipping and Product Services segments. The company involved in the transportation of liquefied petroleum gas to oil companies, and trading and utility companies. It also offers integrated liquified petroleum gas (LPG) delivery services and support; wholesale and trade of LPG; and management services.