Dorian LPG Ltd. (LPG) Trading Down 3.4%
Dorian LPG Ltd. (NYSE:LPG)’s share price dropped 3.4% during mid-day trading on Tuesday . The stock traded as low as $5.32 and last traded at $5.37, with a volume of 69,706 shares changing hands. The stock had previously closed at $5.56.
LPG has been the subject of several recent research reports. Zacks Investment Research upgraded Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. ABN Amro cut Dorian LPG from a “buy” rating to a “hold” rating in a research note on Thursday, June 30th.
The firm has a market cap of $289.36 million, a price-to-earnings ratio of 2.62 and a beta of 1.06. The firm has a 50 day moving average of $5.87 and a 200 day moving average of $8.13.
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Dorian LPG (NYSE:LPG) last released its earnings results on Thursday, July 28th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The business earned $50.50 million during the quarter, compared to analyst estimates of $34.90 million. Dorian LPG had a net margin of 37.74% and a return on equity of 13.85%. The business’s revenue for the quarter was up 54.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. On average, equities research analysts forecast that Dorian LPG Ltd. will post $0.02 earnings per share for the current fiscal year.
In other Dorian LPG news, CEO John C. Hadjipateras bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 29th. The stock was purchased at an average cost of $7.39 per share, for a total transaction of $147,800.00. Following the completion of the purchase, the chief executive officer now owns 2,279,744 shares of the company’s stock, valued at approximately $16,847,308.16. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 26.80% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in shares of Dorian LPG by 566.9% in the second quarter. Royal Bank of Canada now owns 34,185 shares of the company’s stock valued at $241,000 after buying an additional 29,059 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Dorian LPG during the second quarter valued at approximately $599,000. Spark Investment Management LLC raised its stake in shares of Dorian LPG by 128.6% in the second quarter. Spark Investment Management LLC now owns 285,300 shares of the company’s stock valued at $2,011,000 after buying an additional 160,500 shares in the last quarter. Oppenheimer & Close LLC raised its stake in shares of Dorian LPG by 92.8% in the second quarter. Oppenheimer & Close LLC now owns 912,117 shares of the company’s stock valued at $6,430,000 after buying an additional 439,013 shares in the last quarter. Finally, Teachers Advisors Inc. raised its stake in shares of Dorian LPG by 20.3% in the second quarter. Teachers Advisors Inc. now owns 46,159 shares of the company’s stock valued at $325,000 after buying an additional 7,790 shares in the last quarter. Hedge funds and other institutional investors own 47.99% of the company’s stock.
About Dorian LPG
Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.
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