Dorian LPG (NYSE:LPG) Shares Gap Down – Here’s What Happened

Shares of Dorian LPG Ltd. (NYSE:LPG) gapped down before the market opened on Wednesday . The stock had previously closed at $50.79, but opened at $48.89. Dorian LPG shares last traded at $47.8660, with a volume of 88,528 shares trading hands.

Analyst Upgrades and Downgrades

LPG has been the topic of several research reports. Jefferies Financial Group boosted their price target on Dorian LPG from $42.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Weiss Ratings upgraded shares of Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Freedom Capital upgraded shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Dnb Carnegie raised shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Finally, Wall Street Zen upgraded shares of Dorian LPG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Dorian LPG Trading Down 6.1%

The stock has a market cap of $2.04 billion, a P/E ratio of 6.32 and a beta of 0.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26. The firm’s fifty day simple moving average is $42.78 and its 200-day simple moving average is $39.12.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.40. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The company had revenue of $187.88 million during the quarter, compared to analysts’ expectations of $160.78 million. During the same period in the prior year, the company posted $0.27 earnings per share. Dorian LPG’s revenue for the quarter was up 123.1% compared to the same quarter last year.

Dorian LPG Announces Dividend

The company also recently declared a special dividend, which was paid on Wednesday, August 12th. Shareholders of record on Monday, July 27th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, July 27th. Dorian LPG’s dividend payout ratio is 13.25%.

Insiders Place Their Bets

In other news, insider Tim Truels Hansen sold 25,000 shares of Dorian LPG stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $45.04, for a total value of $1,126,000.00. Following the completion of the transaction, the insider directly owned 157,675 shares of the company’s stock, valued at approximately $7,101,682. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.50% of the company’s stock.

Institutional Investors Weigh In On Dorian LPG

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in Dorian LPG by 14.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,590 shares of the shipping company’s stock valued at $89,000 after purchasing an additional 318 shares during the period. IHT Wealth Management LLC boosted its holdings in shares of Dorian LPG by 2.1% in the 4th quarter. IHT Wealth Management LLC now owns 17,804 shares of the shipping company’s stock worth $433,000 after purchasing an additional 365 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of Dorian LPG by 0.8% during the 4th quarter. WINTON GROUP Ltd now owns 44,640 shares of the shipping company’s stock valued at $1,087,000 after buying an additional 373 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Dorian LPG by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,286 shares of the shipping company’s stock valued at $324,000 after buying an additional 390 shares in the last quarter. Finally, Vident Advisory LLC lifted its position in Dorian LPG by 2.8% in the 3rd quarter. Vident Advisory LLC now owns 20,918 shares of the shipping company’s stock worth $623,000 after buying an additional 577 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.