Dorian LPG (NYSE:LPG) Trading Down 4.4% – Here’s Why

Dorian LPG Ltd. (NYSE:LPG) traded down 4.4% during trading on Thursday . The company traded as low as $25.76 and last traded at $25.84. 295,103 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 648,581 shares. The stock had previously closed at $27.03.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “buy” rating and issued a $42.00 target price on shares of Dorian LPG in a research note on Thursday, October 31st.

Dorian LPG Stock Down 0.9 %

The business has a 50-day simple moving average of $24.78 and a two-hundred day simple moving average of $32.18. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 4.27 and a beta of 0.93. The company has a quick ratio of 4.20, a current ratio of 4.22 and a debt-to-equity ratio of 0.48.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings results on Thursday, October 31st. The shipping company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The company had revenue of $82.40 million during the quarter, compared to analyst estimates of $82.40 million. During the same period in the prior year, the firm earned $1.85 EPS. Dorian LPG’s quarterly revenue was down 43.1% on a year-over-year basis. As a group, equities analysts forecast that Dorian LPG Ltd. will post 2.84 earnings per share for the current fiscal year.

Dorian LPG Dividend Announcement

The business also recently declared a dividend, which was paid on Monday, November 25th. Shareholders of record on Tuesday, November 5th were given a $1.00 dividend. The ex-dividend date was Tuesday, November 5th.

Institutional Trading of Dorian LPG

A number of institutional investors and hedge funds have recently made changes to their positions in LPG. Quarry LP lifted its position in shares of Dorian LPG by 57.8% during the 2nd quarter. Quarry LP now owns 942 shares of the shipping company’s stock worth $40,000 after purchasing an additional 345 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Dorian LPG by 126.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,247 shares of the shipping company’s stock worth $52,000 after purchasing an additional 697 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Dorian LPG by 146.2% during the 4th quarter. GAMMA Investing LLC now owns 2,194 shares of the shipping company’s stock worth $53,000 after purchasing an additional 1,303 shares during the last quarter. CWM LLC lifted its position in shares of Dorian LPG by 285.4% during the 3rd quarter. CWM LLC now owns 2,058 shares of the shipping company’s stock worth $71,000 after purchasing an additional 1,524 shares during the last quarter. Finally, Viking Fund Management LLC acquired a new position in shares of Dorian LPG during the 4th quarter worth about $219,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.