Dorian LPG (NYSE:LPG) Stock Price Down 4.5% – Here’s Why

Dorian LPG Ltd. (NYSE:LPG)’s stock price dropped 4.5% on Monday . The stock traded as low as $27.70 and last traded at $27.62. Approximately 130,448 shares were traded during trading, a decline of 81% from the average daily volume of 704,740 shares. The stock had previously closed at $28.92.

Analyst Ratings Changes

LPG has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Dorian LPG from a “sell” rating to a “hold” rating in a research report on Sunday, June 1st. Jefferies Financial Group boosted their price objective on shares of Dorian LPG from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday.

Dorian LPG Stock Down 3.2%

The firm has a market capitalization of $1.20 billion, a PE ratio of 12.94 and a beta of 0.77. The business’s fifty day moving average price is $23.78 and its 200 day moving average price is $22.90. The company has a quick ratio of 3.52, a current ratio of 3.54 and a debt-to-equity ratio of 0.48.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings data on Thursday, May 22nd. The shipping company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.08. The company had revenue of $75.89 million during the quarter, compared to analysts’ expectations of $79.04 million. Dorian LPG had a return on equity of 8.88% and a net margin of 25.52%. The firm’s revenue for the quarter was down 46.3% on a year-over-year basis. During the same period last year, the firm earned $1.91 EPS. On average, equities research analysts forecast that Dorian LPG Ltd. will post 2.6 earnings per share for the current fiscal year.

Dorian LPG Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $0.50 dividend. The ex-dividend date was Friday, May 16th. This represents a yield of 13.5%.

Hedge Funds Weigh In On Dorian LPG

Several institutional investors have recently bought and sold shares of LPG. Kingstone Capital Partners Texas LLC acquired a new position in Dorian LPG in the 2nd quarter valued at $165,210,000. Millennium Management LLC increased its stake in Dorian LPG by 3,728.9% in the 1st quarter. Millennium Management LLC now owns 997,470 shares of the shipping company’s stock valued at $22,283,000 after buying an additional 971,419 shares during the period. Sparta 24 Ltd. acquired a new position in Dorian LPG in the 1st quarter valued at $5,036,000. Voloridge Investment Management LLC acquired a new position in shares of Dorian LPG during the 4th quarter worth $4,669,000. Finally, American Century Companies Inc. grew its stake in shares of Dorian LPG by 11.0% during the 4th quarter. American Century Companies Inc. now owns 1,352,071 shares of the shipping company’s stock worth $32,950,000 after purchasing an additional 134,289 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.