BW LPG Limited (NYSE:BWLP) Shares Shorted: Short Interest Up 143.1% in September

BW LPG Limited (NYSE:BWLP) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 1,595,030 shares, a growth of 143.1% from the August 31st total of 656,191 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 582,113 shares, the days-to-cover ratio is presently 2.7 days.

BW LPG Trading Up 1.8%

NYSE:BWLP traded up $0.44 during mid-day trading on Monday, hitting $24.67. 330,508 shares of the company’s stock were exchanged, compared to its average volume of 421,914. The company has a 50 day simple moving average of $23.37 and a 200-day simple moving average of $20.47. The company has a current ratio of 1.44, a quick ratio of 1.18 and a debt-to-equity ratio of 0.32. BW LPG has a fifty-two week low of $11.72 and a fifty-two week high of $26.47. The firm has a market capitalization of $3.73 billion, a P/E ratio of 8.39 and a beta of 0.99.

BW LPG (NYSE:BWLP) last posted its earnings results on Saturday, August 29th. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.38). The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $318.01 million. BW LPG had a return on equity of 22.48% and a net margin of 12.64%.

BW LPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Tuesday, September 8th were paid a NOK 8.89 dividend. This is a positive change from BW LPG’s previous quarterly dividend of NOK 6.20. This represents a $35.57 annualized dividend and a dividend yield of 144.2%. The ex-dividend date of this dividend was Tuesday, September 8th. BW LPG’s payout ratio is presently 129.25%.

Analysts Set New Price Targets

BWLP has been the subject of several research analyst reports. Clarkson Capital raised BW LPG from a “neutral” rating to a “buy” rating in a research note on Thursday, August 20th. Pareto Securities upgraded shares of BW LPG from a “hold” rating to a “buy” rating in a research note on Thursday, September 10th. Weiss Ratings raised shares of BW LPG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 15th. Finally, Wall Street Zen cut shares of BW LPG from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, BW LPG presently has an average rating of “Moderate Buy”.

Institutional Trading of BW LPG

A number of institutional investors and hedge funds have recently bought and sold shares of BWLP. Arrowstreet Capital Limited Partnership bought a new position in shares of BW LPG during the first quarter worth about $9,646,000. Fearnley Asset Management AS bought a new stake in BW LPG in the fourth quarter valued at approximately $5,388,000. Bank of America Corp DE bought a new stake in BW LPG in the second quarter valued at approximately $6,218,000. The Manufacturers Life Insurance Company acquired a new stake in BW LPG during the 2nd quarter valued at approximately $6,073,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in BW LPG during the 2nd quarter valued at approximately $3,626,000.

BW LPG Company Profile

BW LPG Limited (NYSE: BWLP) is a Singapore-based maritime company that owns and operates very large gas carriers (VLGCs) used to transport liquefied petroleum gas (LPG), primarily propane and butane. The company provides seaborne transportation services to energy producers, commodity traders, and other customers involved in the global LPG supply chain.

BW LPG’s activities include vessel ownership, ship management, commercial operation, and fleet optimization. Its ships transport LPG on international trade routes connecting major exporting regions, including the Middle East and the United States, with import markets in Asia, Europe, and other parts of the world.