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

BW LPG Limited (NYSE:BWLP) gapped up prior to trading on Tuesday . The stock had previously closed at $8.56, but opened at $9.37. BW LPG shares last traded at $9.02, with a volume of 176,178 shares changing hands.

Wall Street Analyst Weigh In

Separately, Pareto Securities raised BW LPG from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th.

BW LPG Price Performance

The stock has a 50-day moving average of $11.68 and a two-hundred day moving average of $12.40. The firm has a market cap of $1.15 billion and a price-to-earnings ratio of 3.29. The company has a current ratio of 1.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.15.

BW LPG (NYSE:BWLP) last announced its earnings results on Thursday, February 27th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04. The firm had revenue of $127.57 million during the quarter, compared to analyst estimates of $183.00 million.

BW LPG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 19.19%. The ex-dividend date was Monday, March 10th. BW LPG’s payout ratio is 63.16%.

Institutional Trading of BW LPG

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in BW LPG by 600.5% in the 4th quarter. Bank of New York Mellon Corp now owns 770,219 shares of the company’s stock worth $8,750,000 after acquiring an additional 660,269 shares in the last quarter. Amundi increased its holdings in shares of BW LPG by 22.4% in the 4th quarter. Amundi now owns 2,208,258 shares of the company’s stock valued at $25,152,000 after purchasing an additional 404,323 shares during the period. Boothbay Fund Management LLC purchased a new stake in shares of BW LPG in the fourth quarter worth approximately $1,778,000. Citadel Advisors LLC acquired a new stake in shares of BW LPG during the fourth quarter worth approximately $1,231,000. Finally, Barclays PLC grew its position in BW LPG by 6.0% during the fourth quarter. Barclays PLC now owns 1,546,077 shares of the company’s stock valued at $17,563,000 after purchasing an additional 86,909 shares in the last quarter.

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.