Dorian LPG (NYSE:LPG) Upgraded at Dnb Carnegie

Dorian LPG (NYSE:LPG) was upgraded by analysts at Dnb Carnegie from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings restated a “hold (c+)” rating on shares of Dorian LPG in a research report on Wednesday, April 22nd. Jefferies Financial Group began coverage on Dorian LPG in a research report on Friday, April 24th. They set a “buy” rating and a $42.00 target price on the stock. Finally, Wall Street Zen cut Dorian LPG from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 22nd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $42.00.

Dorian LPG Price Performance

Shares of LPG opened at $42.04 on Monday. The business’s 50-day moving average is $35.70 and its two-hundred day moving average is $30.89. The company has a market capitalization of $1.80 billion, a P/E ratio of 14.80 and a beta of 0.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.40 and a current ratio of 2.41. Dorian LPG has a fifty-two week low of $20.03 and a fifty-two week high of $42.30.

Insiders Place Their Bets

In related news, CFO Theodore B. Young sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $34.84, for a total value of $348,400.00. Following the transaction, the chief financial officer directly owned 122,926 shares of the company’s stock, valued at approximately $4,282,741.84. This trade represents a 7.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LPG. Arrowstreet Capital Limited Partnership purchased a new position in Dorian LPG in the 1st quarter valued at about $11,929,000. AQR Capital Management LLC lifted its stake in Dorian LPG by 236.7% in the 2nd 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 lifted its stake in 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 valued at $8,996,000 after buying an additional 212,787 shares in the last quarter. Vanguard Group Inc. lifted its stake in Dorian LPG by 12.4% in the 4th quarter. Vanguard Group Inc. now owns 1,874,907 shares of the shipping company’s stock valued at $45,635,000 after buying an additional 207,575 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in Dorian LPG by 425.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 256,216 shares of the shipping company’s stock valued at $7,635,000 after buying an additional 207,450 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other 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.