Dorian LPG (NYSE:LPG) Reaches New 52-Week High – Should You Buy?

Dorian LPG Ltd. (NYSE:LPG) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $38.40 and last traded at $37.6170, with a volume of 448390 shares trading hands. The stock had previously closed at $36.99.

Wall Street Analysts Forecast Growth

LPG has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dorian LPG in a research report on Monday, December 29th. Pareto Securities lowered shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Wall Street Zen cut shares of Dorian LPG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 22nd. Finally, Dnb Carnegie upgraded shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Dorian LPG Stock Up 1.7%

The company has a quick ratio of 2.40, a current ratio of 2.41 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $29.70 and a 200-day simple moving average of $28.72. The stock has a market cap of $1.61 billion, a P/E ratio of 13.25 and a beta of 0.53.

Dorian LPG (NYSE:LPG) last released its quarterly earnings results on Thursday, February 5th. The shipping company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.06). The firm had revenue of $118.23 million during the quarter, compared to the consensus estimate of $115.15 million. Dorian LPG had a net margin of 29.88% and a return on equity of 11.82%. The company’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 EPS. Analysts expect that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Dividend Announcement

The firm also recently declared a special dividend, which was paid on Tuesday, February 24th. Stockholders of record on Monday, February 9th were given a $0.70 dividend. This represents a dividend yield of 881.0%. The ex-dividend date of this dividend was Monday, February 9th.

Insider Transactions at Dorian LPG

In other Dorian LPG news, CEO John C. Hadjipateras acquired 15,000 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were acquired at an average cost of $27.30 per share, for a total transaction of $409,500.00. Following the completion of the purchase, the chief executive officer owned 153,500 shares of the company’s stock, valued at approximately $4,190,550. This trade represents a 10.83% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Theodore B. Young sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $34.84, for a total value of $348,400.00. Following the sale, the chief financial officer owned 122,926 shares of the company’s stock, valued at approximately $4,282,741.84. The trade was a 7.52% decrease in their position. The SEC filing for this sale provides additional information. 13.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dorian LPG

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in Dorian LPG by 236.7% in the second quarter. AQR Capital Management LLC now owns 425,478 shares of the shipping company’s stock valued at $10,373,000 after buying an additional 299,107 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Dorian LPG by 136.2% in the 2nd quarter. Bank of America Corp DE now owns 368,986 shares of the shipping company’s stock worth $8,996,000 after acquiring an additional 212,787 shares in the last quarter. Vanguard Group Inc. grew its position in Dorian LPG by 12.4% during the 4th quarter. Vanguard Group Inc. now owns 1,874,907 shares of the shipping company’s stock worth $45,635,000 after acquiring an additional 207,575 shares during the last quarter. Tudor Investment Corp ET AL grew its position in Dorian LPG by 425.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 256,216 shares of the shipping company’s stock worth $7,635,000 after acquiring an additional 207,450 shares during the last quarter. Finally, Millennium Management LLC raised its position in Dorian LPG by 55.8% in the 3rd quarter. Millennium Management LLC now owns 572,315 shares of the shipping company’s stock valued at $17,055,000 after purchasing an additional 204,861 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Dorian LPG Company Profile

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.