Dorian LPG (NYSE:LPG) Stock Price Up 3.7% on Earnings Beat

Shares of Dorian LPG Ltd. (NYSE:LPG - Get Free Report) rose 3.7% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $20.86 and last traded at $20.94. Approximately 255,656 shares traded hands during trading, a decline of 64% from the average daily volume of 718,130 shares. The stock had previously closed at $20.20.

The shipping company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.08. The firm had revenue of $75.89 million during the quarter, compared to the consensus estimate of $79.04 million. Dorian LPG had a net margin of 38.51% and a return on equity of 15.14%. The business's revenue for the quarter was down 46.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.91 EPS.

Dorian LPG Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, May 16th. This represents a yield of 13.5%. Dorian LPG's payout ratio is 46.30%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LPG. Wall Street Zen cut shares of Dorian LPG from a "hold" rating to a "sell" rating in a research report on Saturday. Pareto Securities upgraded shares of Dorian LPG to a "buy" rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group restated a "buy" rating and set a $35.00 target price on shares of Dorian LPG in a research note on Friday, January 31st.

Insiders Place Their Bets

In related news, CEO John C. Hadjipateras bought 12,500 shares of the firm'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 document filed with the SEC, which is available through this link. Insiders own 13.40% of the company's stock.

Institutional Investors Weigh In On Dorian LPG

Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. increased its holdings in Dorian LPG by 8.0% in the 1st quarter. American Century Companies Inc. now owns 1,460,840 shares of the shipping company's stock worth $32,635,000 after purchasing an additional 108,769 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Dorian LPG by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 1,001,189 shares of the shipping company's stock worth $24,404,000 after purchasing an additional 36,967 shares during the last quarter. Millennium Management LLC increased its stake in shares of Dorian LPG by 3,728.9% in the first quarter. Millennium Management LLC now owns 997,470 shares of the shipping company's stock valued at $22,283,000 after buying an additional 971,419 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Dorian LPG by 10.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 580,771 shares of the shipping company's stock valued at $12,974,000 after buying an additional 56,432 shares during the period. Finally, Bridgeway Capital Management LLC raised its holdings in Dorian LPG by 2.1% in the 1st quarter. Bridgeway Capital Management LLC now owns 458,653 shares of the shipping company's stock valued at $10,246,000 after buying an additional 9,544 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

Dorian LPG Trading Down 2.5%

The company has a current ratio of 3.97, a quick ratio of 3.95 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $927.35 million, a price-to-earnings ratio of 5.51 and a beta of 0.71. The firm's 50-day moving average is $21.38 and its 200 day moving average is $22.94.

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.