Dorian LPG (NYSE:LPG) Stock Price Up 5.3%

Dorian LPG Ltd (NYSE:LPG)’s stock price rose 5.3% on Monday . The stock traded as high as $9.93 and last traded at $9.87, approximately 323,538 shares traded hands during trading. An increase of 14% from the average daily volume of 284,474 shares. The stock had previously closed at $9.37.

LPG has been the subject of several research reports. DNB Markets cut Dorian LPG from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Zacks Investment Research raised Dorian LPG from a “strong sell” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday, July 30th. ValuEngine cut Dorian LPG from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Wells Fargo & Co upgraded Dorian LPG from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $8.00 to $15.00 in a research note on Thursday, July 25th.

The stock has a 50 day simple moving average of $9.27 and a 200 day simple moving average of $7.64. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The stock has a market cap of $504.38 million, a P/E ratio of -12.49 and a beta of 1.17.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.09. Dorian LPG had a negative return on equity of 0.94% and a negative net margin of 12.67%. The company had revenue of $61.17 million for the quarter, compared to analyst estimates of $56.10 million. Equities analysts anticipate that Dorian LPG Ltd will post 1.49 earnings per share for the current year.

In other news, CFO Theodore B. Young sold 4,500 shares of Dorian LPG stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $9.36, for a total value of $42,120.00. Following the transaction, the chief financial officer now owns 122,253 shares in the company, valued at approximately $1,144,288.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Group Ltd Bw sold 422,517 shares of Dorian LPG stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $8.83, for a total value of $3,730,825.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,316,928 shares of company stock worth $12,172,994. Corporate insiders own 26.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its position in Dorian LPG by 56.1% during the 4th quarter. Bank of America Corp DE now owns 19,717 shares of the shipping company’s stock worth $115,000 after acquiring an additional 7,082 shares during the last quarter. Bank of New York Mellon Corp grew its position in Dorian LPG by 8.7% during the 4th quarter. Bank of New York Mellon Corp now owns 109,766 shares of the shipping company’s stock worth $639,000 after acquiring an additional 8,803 shares during the last quarter. Rhumbline Advisers grew its position in Dorian LPG by 3.3% during the 1st quarter. Rhumbline Advisers now owns 40,409 shares of the shipping company’s stock worth $259,000 after acquiring an additional 1,300 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Dorian LPG by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 311,513 shares of the shipping company’s stock worth $1,816,000 after buying an additional 31,675 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Dorian LPG during the 1st quarter worth about $159,000. Institutional investors own 55.89% of the company’s stock.

Dorian LPG Company Profile (NYSE:LPG)

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.

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