Dorian LPG (NYSE:LPG) Stock Price Up 5.1% - Still a Buy?

Key Points

• Dorian LPG shares rose 5.1% in mid-day trading, reaching as high as $43.61, though volume was far below average.
• Analyst sentiment is mixed but generally constructive: the stock has a Moderate Buy consensus rating and an average price target of $55, with Jefferies recently raising its target to $55 and issuing a Buy rating.
• The company reported strong quarterly results, with EPS of $1.89 beating estimates and revenue of $153.27 million, and it also declared a $1.00 special dividend payable on August 12.

Shares of Dorian LPG Ltd. (NYSE:LPG - Get Free Report) were up 5.1% during mid-day trading on Monday . The stock traded as high as $43.61 and last traded at $43.1090. 89,125 shares were traded during mid-day trading, a decline of 85% from the average session volume of 605,820 shares. The stock had previously closed at $41.03.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LPG. Dnb Carnegie upgraded Dorian LPG from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. Pareto Securities reaffirmed a "buy" rating on shares of Dorian LPG in a report on Thursday, May 21st. Jefferies Financial Group increased their price objective on shares of Dorian LPG from $42.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Weiss Ratings raised Dorian LPG from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. Finally, Wall Street Zen lowered shares of Dorian LPG from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 12th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

Dorian LPG Price Performance

The stock has a fifty day moving average of $40.89 and a 200 day moving average of $35.62. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 9.47 and a beta of 0.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.67 and a quick ratio of 2.65.

Dorian LPG (NYSE:LPG - Get Free Report) last posted its earnings results on Tuesday, May 19th. The shipping company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.48. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The firm had revenue of $153.27 million during the quarter, compared to analyst estimates of $128.87 million. During the same period in the previous year, the firm earned $0.25 EPS. The business's quarterly revenue was up 102.0% on a year-over-year basis.

Dorian LPG Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Monday, July 27th will be issued a dividend of $1.00 per share. The ex-dividend date is Monday, July 27th.

Insider Activity

In other news, insider Tim Truels Hansen sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $35.38, for a total value of $707,600.00. Following the transaction, the insider directly owned 157,842 shares in the company, valued at approximately $5,584,449.96. This represents a 11.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ted Kalborg sold 15,373 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $45.06, for a total transaction of $692,707.38. Following the sale, the director owned 66,348 shares in the company, valued at $2,989,640.88. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 13.60% of the company's stock.

Institutional Trading of Dorian LPG

A number of large investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in shares of Dorian LPG by 1,003.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company's stock valued at $32,000 after purchasing an additional 1,315 shares during the last quarter. KBC Group NV purchased a new position in Dorian LPG during the first quarter worth about $38,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Dorian LPG by 429.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company's stock valued at $40,000 after buying an additional 1,340 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Dorian LPG during the 3rd quarter worth $41,000. Finally, Hilton Head Capital Partners LLC acquired a new position in Dorian LPG during the fourth quarter worth about $49,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

About Dorian LPG

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG's fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.

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.