BW LPG (NYSE:BWLP) Shares Gap Up - Here's Why

Key Points

• BW LPG shares gapped up at the open, rising from a prior close of $19.68 to $20.39 before trading around $20.10. The move came on modest volume of about 93,230 shares.
• Analyst sentiment remains mixed, with recent rating changes including upgrades from Dnb Carnegie and Kepler Capital Markets but downgrades from Pareto Securities and Wall Street Zen. Overall, MarketBeat shows a consensus rating of Hold.
• The company recently reported quarterly EPS of $1.08 on revenue of $838.89 million and also boosted its dividend sharply to $6.196 per share, implying an extremely high annualized yield. Institutional investors such as RBC and JPMorgan also increased or initiated positions in the stock.

BW LPG Limited (NYSE:BWLP - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $19.68, but opened at $20.39. BW LPG shares last traded at $20.1030, with a volume of 93,230 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of BW LPG in a research note on Friday, May 22nd. Dnb Carnegie raised shares of BW LPG from a "strong sell" rating to a "hold" rating in a research note on Monday, May 18th. Kepler Capital Markets raised shares of BW LPG from a "hold" rating to a "buy" rating in a report on Tuesday, April 28th. Pareto Securities cut shares of BW LPG from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 16th. Finally, Wall Street Zen downgraded shares of BW LPG from a "strong-buy" rating to a "buy" rating in a report on Sunday. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, BW LPG currently has a consensus rating of "Hold".

BW LPG Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.47. The stock's 50 day simple moving average is $19.98 and its two-hundred day simple moving average is $17.45. The firm has a market capitalization of $3.05 billion, a PE ratio of 8.48 and a beta of 1.29.

BW LPG (NYSE:BWLP - Get Free Report) last posted its quarterly earnings results on Friday, May 15th. The company reported $1.08 earnings per share (EPS) for the quarter. BW LPG had a return on equity of 18.51% and a net margin of 10.13%.The business had revenue of $838.89 million during the quarter.

BW LPG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 12th were issued a $6.196 dividend. This represents a $24.78 annualized dividend and a yield of 122.8%. The ex-dividend date was Friday, June 12th. This is an increase from BW LPG's previous quarterly dividend of $0.57. BW LPG's dividend payout ratio (DPR) is currently 112.61%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BWLP. Royal Bank of Canada grew its holdings in shares of BW LPG by 4,137.5% in the first quarter. Royal Bank of Canada now owns 23,476 shares of the company's stock valued at $255,000 after purchasing an additional 22,922 shares during the period. Jane Street Group LLC raised its stake in BW LPG by 14.0% during the first quarter. Jane Street Group LLC now owns 51,463 shares of the company's stock worth $558,000 after purchasing an additional 6,331 shares during the period. JPMorgan Chase & Co. raised its stake in BW LPG by 26.2% during the second quarter. JPMorgan Chase & Co. now owns 8,435 shares of the company's stock worth $100,000 after purchasing an additional 1,749 shares during the period. Quantbot Technologies LP acquired a new position in BW LPG in the 2nd quarter valued at about $98,000. Finally, StoneX Group Inc. acquired a new position in BW LPG in the 2nd quarter valued at about $190,000.

BW LPG Company Profile

BW LPG NYSE: BWLP is a pure‐play owner and operator of liquefied petroleum gas (LPG) carriers. The company's core business centers on the maritime transportation of LPG, predominantly propane and butane, under both time‐ and voyage‐charter arrangements. Its fleet comprises pressurized and semi‐refrigerated vessels designed to meet the specific requirements of LPG producers, traders and end‐users around the world.

Headquartered in Singapore, BW LPG serves a global customer base, with commercial offices in key energy hubs including Houston, London, Dubai and Tokyo.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.