Dorian LPG (NYSE:LPG) Hits New 1-Year High at $19.68

Dorian LPG Ltd. (NYSE:LPGGet Rating)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $19.68 and last traded at $19.64, with a volume of 8709 shares changing hands. The stock had previously closed at $19.30.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LPG. Jefferies Financial Group boosted their price objective on Dorian LPG from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 2nd. StockNews.com lowered Dorian LPG from a “buy” rating to a “hold” rating in a report on Monday.

Dorian LPG Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.90 and a current ratio of 2.93. The company has a market capitalization of $785.61 million, a price-to-earnings ratio of 8.05 and a beta of 1.15. The firm has a fifty day moving average price of $16.26 and a 200-day moving average price of $15.88.

Dorian LPG Announces Dividend

The company also recently disclosed a Variable dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Monday, November 7th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, November 4th. Dorian LPG’s payout ratio is 227.27%.

Insider Activity

In related news, Director Thomas Jason Coleman sold 45,000 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $14.76, for a total transaction of $664,200.00. Following the completion of the sale, the director now directly owns 2,165,000 shares in the company, valued at approximately $31,955,400. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Thomas Jason Coleman sold 45,000 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $14.76, for a total value of $664,200.00. Following the sale, the director now directly owns 2,165,000 shares of the company’s stock, valued at approximately $31,955,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Theodore B. Young sold 12,500 shares of the firm’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $19.00, for a total transaction of $237,500.00. Following the completion of the transaction, the chief financial officer now directly owns 98,440 shares in the company, valued at $1,870,360. The disclosure for this sale can be found here. In the last ninety days, insiders sold 427,500 shares of company stock worth $7,221,640. 28.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dorian LPG

Several institutional investors have recently modified their holdings of LPG. BlackRock Inc. grew its stake in Dorian LPG by 8.2% in the 3rd quarter. BlackRock Inc. now owns 5,263,675 shares of the shipping company’s stock valued at $71,427,000 after purchasing an additional 400,804 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Dorian LPG by 549.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 319,025 shares of the shipping company’s stock worth $4,849,000 after purchasing an additional 269,906 shares during the period. Balyasny Asset Management LLC bought a new position in Dorian LPG during the third quarter valued at $3,435,000. JPMorgan Chase & Co. increased its position in Dorian LPG by 32.6% in the first quarter. JPMorgan Chase & Co. now owns 799,380 shares of the shipping company’s stock worth $11,583,000 after buying an additional 196,749 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in Dorian LPG by 233.5% during the second quarter. Cubist Systematic Strategies LLC now owns 280,002 shares of the shipping company’s stock valued at $4,256,000 after purchasing an additional 196,039 shares during the last quarter. 85.17% of the stock is owned by institutional investors.

About Dorian LPG

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Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. The company owns and operates very large gas carriers (VLGCs). As of May 27, 2022, its fleet consisted of twenty-two VLGCs. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.

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