Dorian LPG (NYSE:LPG) Share Price Passes Above 50 Day Moving Average – What’s Next?

Dorian LPG Ltd. (NYSE:LPG)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $40.58 and traded as high as $41.23. Dorian LPG shares last traded at $39.8760, with a volume of 612,122 shares.

Analysts Set New Price Targets

LPG has been the subject of a number of analyst reports. Pareto Securities reissued a “buy” rating on shares of Dorian LPG in a report on Thursday, May 21st. Wall Street Zen upgraded shares of Dorian LPG from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Dnb Carnegie raised Dorian LPG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings raised shares of Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Finally, Freedom Capital downgraded Dorian LPG from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Dorian LPG currently has an average rating of “Moderate Buy” and an average price target of $55.00.

Dorian LPG Price Performance

The company has a current ratio of 2.67, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40. The stock has a market cap of $1.71 billion, a PE ratio of 8.76 and a beta of 0.62. The company’s 50 day moving average is $40.58 and its 200-day moving average is $33.96.

Dorian LPG (NYSE:LPG) last announced its earnings results on Tuesday, May 19th. The shipping company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.48. Dorian LPG had a return on equity of 18.01% and a net margin of 40.22%.The company had revenue of $153.27 million during the quarter, compared to the consensus estimate of $128.87 million. During the same period last year, the firm earned $0.25 earnings per share. The company’s revenue was up 102.0% on a year-over-year basis.

Dorian LPG Dividend Announcement

The firm also recently declared a special dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a yield of 951.0%.

Insiders Place Their Bets

In other Dorian LPG news, Director Ted Kalborg sold 15,373 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $45.06, for a total transaction of $692,707.38. Following the completion of the sale, the director owned 66,348 shares in the company, valued at $2,989,640.88. This trade represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dorian LPG

A number of institutional investors have recently made changes to their positions in LPG. Tudor Investment Corp ET AL increased its stake in Dorian LPG by 425.4% during the third quarter. Tudor Investment Corp ET AL now owns 256,216 shares of the shipping company’s stock valued at $7,635,000 after purchasing an additional 207,450 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Dorian LPG by 212.7% in the 4th quarter. SG Americas Securities LLC now owns 53,071 shares of the shipping company’s stock worth $1,292,000 after buying an additional 36,101 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Dorian LPG by 6.2% in the 3rd quarter. American Century Companies Inc. now owns 1,697,048 shares of the shipping company’s stock worth $50,572,000 after buying an additional 99,485 shares during the last quarter. Unison Advisors LLC bought a new position in shares of Dorian LPG in the 4th quarter worth about $711,000. Finally, Avior Wealth Management LLC acquired a new position in shares of Dorian LPG in the 4th quarter valued at about $439,000. 62.50% of the stock is owned by institutional investors and hedge funds.

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.