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

Dorian LPG Ltd. (NYSE:LPG - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $25.03, but opened at $25.58. Dorian LPG shares last traded at $25.78, with a volume of 41,577 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Dorian LPG from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st.

Dorian LPG Stock Performance

The firm has a market capitalization of $1.10 billion, a P/E ratio of 6.54 and a beta of 0.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.97 and a quick ratio of 3.95. The stock's 50 day moving average is $21.77 and its two-hundred day moving average is $22.61.

Dorian LPG (NYSE:LPG - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The shipping company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.08. The business had revenue of $75.89 million during the quarter, compared to the consensus estimate of $79.04 million. Dorian LPG had a return on equity of 15.14% and a net margin of 38.51%. The firm's revenue was down 46.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.91 earnings per share. As a group, equities analysts anticipate that Dorian LPG Ltd. will post 2.6 earnings per share for the current fiscal year.

Dorian LPG Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a yield of 13.5%. Dorian LPG's dividend payout ratio (DPR) is presently 46.30%.

Insider Activity

In related news, CEO John C. Hadjipateras purchased 12,500 shares of the business's stock in a transaction on Tuesday, April 8th. The shares were purchased at an average price of $17.75 per share, with a total value of $221,875.00. Following the completion of the purchase, the chief executive officer now owns 1,824,386 shares in the company, valued at $32,382,851.50. This represents a 0.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.40% of the stock is owned by company insiders.

Institutional Trading of Dorian LPG

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its position in shares of Dorian LPG by 3,728.9% during the 1st quarter. Millennium Management LLC now owns 997,470 shares of the shipping company's stock worth $22,283,000 after purchasing an additional 971,419 shares during the last quarter. Sparta 24 Ltd. acquired a new stake in Dorian LPG during the first quarter worth approximately $5,036,000. Voloridge Investment Management LLC bought a new position in Dorian LPG in the 4th quarter valued at about $4,669,000. American Century Companies Inc. raised its position in Dorian LPG by 11.0% during the fourth quarter. American Century Companies Inc. now owns 1,352,071 shares of the shipping company's stock valued at $32,950,000 after purchasing an additional 134,289 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in Dorian LPG during the fourth quarter worth about $2,838,000. 62.50% of the stock is currently owned by institutional investors.

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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