Dorian LPG (NYSE:LPG) Shares Gap Down - Here's What Happened

Dorian LPG Ltd. (NYSE:LPG - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $22.66, but opened at $21.75. Dorian LPG shares last traded at $20.76, with a volume of 239,356 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LPG shares. Jefferies Financial Group reiterated a "buy" rating and issued a $35.00 target price on shares of Dorian LPG in a report on Friday, January 31st. Pareto Securities raised Dorian LPG to a "buy" rating in a research report on Tuesday, February 4th.

Dorian LPG Stock Performance

The stock's 50-day simple moving average is $21.49 and its 200 day simple moving average is $23.15. The company has a market capitalization of $861.30 million, a PE ratio of 5.12 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.95 and a current ratio of 3.97.

Dorian LPG (NYSE:LPG - Get Free Report) last issued its earnings results on Thursday, May 22nd. The shipping company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.08. Dorian LPG had a net margin of 38.51% and a return on equity of 15.14%. During the same quarter in the prior year, the company earned $1.91 earnings per share. The company's revenue was down 46.3% on a year-over-year basis. As a group, research analysts expect that Dorian LPG Ltd. will post 2.6 earnings per share for the current fiscal year.

Dorian LPG Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be issued a $0.50 dividend. The ex-dividend date is Friday, May 16th. This represents a dividend yield of 13.5%. Dorian LPG's payout ratio is currently 25.45%.

Insider Transactions at Dorian LPG

In related news, CEO John C. Hadjipateras purchased 12,500 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The shares were purchased at an average cost of $17.75 per share, for a total transaction of $221,875.00. Following the purchase, the chief executive officer now directly owns 1,824,386 shares of the company's stock, valued at $32,382,851.50. The trade was a 0.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.40% of the company's stock.

Hedge Funds Weigh In On Dorian LPG

Large investors have recently bought and sold shares of the stock. Beacon Capital Management LLC lifted its holdings in shares of Dorian LPG by 61.1% in the 4th quarter. Beacon Capital Management LLC now owns 1,128 shares of the shipping company's stock valued at $27,000 after purchasing an additional 428 shares during the last quarter. NewEdge Advisors LLC increased its position in Dorian LPG by 1,003.8% during the first quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company's stock worth $32,000 after buying an additional 1,315 shares during the period. Heck Capital Advisors LLC purchased a new stake in Dorian LPG in the fourth quarter valued at approximately $37,000. Brooklyn Investment Group boosted its holdings in shares of Dorian LPG by 2,087.8% in the first quarter. Brooklyn Investment Group now owns 1,969 shares of the shipping company's stock valued at $44,000 after acquiring an additional 1,879 shares during the period. Finally, Picton Mahoney Asset Management boosted its holdings in shares of Dorian LPG by 6,275.0% in the first quarter. Picton Mahoney Asset Management now owns 2,040 shares of the shipping company's stock valued at $46,000 after acquiring an additional 2,008 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.

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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