ValuEngine Upgrades Dorian LPG Ltd. (LPG) to Hold
Dorian LPG Ltd. (NYSE:LPG) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
Several other brokerages also recently commented on LPG. Zacks Investment Research raised Dorian LPG from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, April 4th. Pareto Securities raised Dorian LPG from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Monday, June 12th. Finally, UBS AG set a $8.00 target price on Dorian LPG and gave the stock a “buy” rating in a research note on Saturday, June 17th.
Dorian LPG (NYSE LPG) opened at 8.02 on Friday. The stock’s 50 day moving average is $7.91 and its 200-day moving average is $9.32. The company’s market capitalization is $431.95 million. Dorian LPG has a 12-month low of $5.07 and a 12-month high of $12.50.
Dorian LPG (NYSE:LPG) last issued its earnings results on Wednesday, June 14th. The shipping company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.14. The firm had revenue of $47.60 million during the quarter, compared to the consensus estimate of $38.08 million. Dorian LPG had a negative return on equity of 2.98% and a negative net margin of 0.86%. The business’s quarterly revenue was down 44.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, equities analysts predict that Dorian LPG will post ($0.27) earnings per share for the current fiscal year.
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In other Dorian LPG news, insider John C. Hadjipateras sold 250,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $7.55, for a total transaction of $1,887,500.00. Following the completion of the transaction, the insider now owns 2,037,020 shares of the company’s stock, valued at $15,379,501. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 26.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in Dorian LPG by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,032,415 shares of the shipping company’s stock valued at $8,477,000 after buying an additional 75,733 shares in the last quarter. Prudential Financial Inc. increased its position in Dorian LPG by 37.0% in the first quarter. Prudential Financial Inc. now owns 199,400 shares of the shipping company’s stock valued at $2,099,000 after buying an additional 53,800 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Dorian LPG during the first quarter valued at about $1,126,000. Dynamic Technology Lab Private Ltd purchased a new position in Dorian LPG during the first quarter valued at about $173,000. Finally, Citadel Advisors LLC increased its position in Dorian LPG by 32.8% in the first quarter. Citadel Advisors LLC now owns 17,041 shares of the shipping company’s stock valued at $179,000 after buying an additional 4,208 shares in the last quarter. 47.58% of the stock is owned by institutional investors.
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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