Dorian LPG (NYSE:LPG) Shares Down 4.7% - Here's Why

Key Points

• Dorian LPG's stock price decreased by 4.7% to $29.74 during mid-day trading, significantly below its previous close of $31.21.
• Research firms have mixed reviews on the stock, with Wall Street Zen upgrading to a "hold" rating, while Jefferies raised the price target to $35.00 with a "buy" rating.
• The company reported earnings of $0.27 per share, missing estimates of $0.61, and experienced a 26.3% year-over-year decline in revenue, totaling $84.21 million for the quarter.

Dorian LPG Ltd. (NYSE:LPG - Get Free Report)'s stock price fell 4.7% during mid-day trading on Monday . The company traded as low as $29.27 and last traded at $29.74. 376,063 shares changed hands during trading, a decline of 47% from the average session volume of 705,268 shares. The stock had previously closed at $31.21.

Analysts Set New Price Targets

A number of research firms recently issued reports on LPG. Wall Street Zen upgraded Dorian LPG from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Jefferies Financial Group boosted their price objective on Dorian LPG from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Zacks Research lowered Dorian LPG from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 9th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $35.00.

Dorian LPG Stock Performance

The company has a fifty day moving average price of $30.78 and a two-hundred day moving average price of $25.66. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 26.19 and a beta of 0.82. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.32 and a quick ratio of 3.30.

Dorian LPG (NYSE:LPG - Get Free Report) last announced its earnings results on Friday, August 1st. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.34). The company had revenue of $84.21 million for the quarter, compared to analyst estimates of $86.53 million. Dorian LPG had a return on equity of 5.24% and a net margin of 15.15%.The firm's revenue for the quarter was down 26.3% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. As a group, equities research analysts expect that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.0%.

Insider Activity

In related news, COO Alexander C. Hadjipateras sold 5,000 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.38, for a total transaction of $161,900.00. Following the transaction, the chief operating officer directly owned 89,440 shares of the company's stock, valued at approximately $2,896,067.20. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. increased its position in Dorian LPG by 8.5% in the 2nd quarter. Osaic Holdings Inc. now owns 34,424 shares of the shipping company's stock worth $838,000 after purchasing an additional 2,692 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Dorian LPG during the 2nd quarter worth about $2,999,000. Public Sector Pension Investment Board boosted its stake in shares of Dorian LPG by 2.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 159,864 shares of the shipping company's stock worth $3,897,000 after acquiring an additional 4,377 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Dorian LPG by 138.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,494 shares of the shipping company's stock worth $85,000 after acquiring an additional 2,031 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new stake in shares of Dorian LPG during the 2nd quarter worth about $417,000. 62.50% of the stock is owned by institutional investors and hedge funds.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.

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