Dorian LPG (NYSE:LPG) Cut to “Strong Sell” at Dnb Carnegie

Dnb Carnegie downgraded shares of Dorian LPG (NYSE:LPG) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in 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 reaffirmed a “hold (c)” rating on shares of Dorian LPG in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.00.

Dorian LPG Stock Down 2.9%

Dorian LPG stock opened at $29.12 on Wednesday. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 10.25 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.41 and a quick ratio of 2.40. Dorian LPG has a fifty-two week low of $16.66 and a fifty-two week high of $38.40. The firm has a fifty day moving average price of $31.40 and a two-hundred 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.06). The firm had revenue of $118.23 million for 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 firm’s revenue was up 48.7% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share. As a group, analysts forecast that Dorian LPG will post 2.6 earnings per share for the current year.

Dorian LPG Announces Dividend

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

Insider Activity at Dorian LPG

In related news, insider Tim Truels Hansen sold 25,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $28.85, for a total transaction of $721,250.00. Following the transaction, the insider directly owned 212,842 shares in the company, valued at $6,140,491.70. The trade was a 10.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John C. Hadjipateras purchased 15,000 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was purchased at an average cost of $27.30 per share, with a total value of $409,500.00. Following the acquisition, the chief executive officer owned 153,500 shares in the company, valued at approximately $4,190,550. This represents a 10.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 13.60% of the stock is owned by corporate insiders.

Institutional Trading of Dorian LPG

A number of institutional investors and hedge funds have recently modified their holdings of the company. IHT Wealth Management LLC boosted its stake in Dorian LPG by 2.1% during the fourth quarter. IHT Wealth Management LLC now owns 17,804 shares of the shipping company’s stock worth $433,000 after buying an additional 365 shares in the last quarter. WINTON GROUP Ltd increased its holdings in Dorian LPG by 0.8% in the 4th quarter. WINTON GROUP Ltd now owns 44,640 shares of the shipping company’s stock valued at $1,087,000 after buying an additional 373 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Dorian LPG by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,286 shares of the shipping company’s stock valued at $324,000 after buying an additional 390 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Dorian LPG by 18.7% during the 4th quarter. CoreCap Advisors LLC now owns 3,269 shares of the shipping company’s stock worth $80,000 after acquiring an additional 514 shares during the period. Finally, Vident Advisory LLC boosted its position in shares of Dorian LPG by 2.8% during the 3rd quarter. Vident Advisory LLC now owns 20,918 shares of the shipping company’s stock valued at $623,000 after acquiring an additional 577 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

About Dorian LPG

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.