Dorian LPG (NYSE:LPG) Shares Gap Down – Here’s What Happened

Dorian LPG Ltd. (NYSE:LPG) shares gapped down before the market opened on Wednesday . The stock had previously closed at $34.57, but opened at $32.67. Dorian LPG shares last traded at $32.42, with a volume of 299,292 shares.

Analyst Ratings Changes

Several research firms have recently issued reports on LPG. Wall Street Zen downgraded Dorian LPG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Dorian LPG in a report on Monday, December 29th. Finally, Dnb Carnegie raised 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 assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Dorian LPG Trading Down 7.7%

The company has a market capitalization of $1.36 billion, a PE ratio of 11.22 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.40 and a current ratio of 2.41. The business has a fifty day moving average price of $31.05 and a 200 day moving average price of $28.92.

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

Dorian LPG Dividend Announcement

The firm also recently announced a special dividend, which was paid on Tuesday, February 24th. Stockholders of record on Monday, February 9th were issued a $0.70 dividend. The ex-dividend date was Monday, February 9th. This represents a dividend yield of 881.0%. Dorian LPG’s dividend payout ratio is presently 35.21%.

Insider Transactions at Dorian LPG

In other Dorian LPG news, insider Tim Truels Hansen sold 25,000 shares of Dorian LPG stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $28.85, for a total value of $721,250.00. Following the completion of the sale, the insider owned 212,842 shares in the company, valued at $6,140,491.70. The trade was a 10.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John C. Hadjipateras acquired 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was bought at an average price of $27.30 per share, with a total value of $409,500.00. Following the completion of the acquisition, the chief executive officer directly owned 153,500 shares of the company’s stock, valued at $4,190,550. This trade represents a 10.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 13.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LPG. Aster Capital Management DIFC Ltd bought a new stake in Dorian LPG in the 3rd quarter worth about $41,000. Sunbelt Securities Inc. bought a new stake in Dorian LPG during the third quarter worth $41,000. NewEdge Advisors LLC boosted its position in Dorian LPG by 1,003.8% in the first quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,315 shares during the last quarter. Citizens National Bank Trust Department bought a new position in Dorian LPG in the 3rd quarter valued at $45,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Dorian LPG by 429.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 1,340 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

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.