Cubist Systematic Strategies LLC Buys 19,359 Shares of Dorian LPG Ltd. $LPG

Key Points

• Cubist Systematic Strategies LLC increased its stake in Dorian LPG Ltd. by 40.1% in Q1, acquiring a total of 67,681 shares valued at approximately $1.5 million.
• Dorian LPG's quarterly earnings report revealed a loss of $0.34 per share against analysts' expectations, with revenue down by 26.3% year-over-year.
• The company declared a quarterly dividend of $0.60 per share, resulting in an annualized dividend yield of 7.7%.

Cubist Systematic Strategies LLC raised its holdings in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 40.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,681 shares of the shipping company's stock after purchasing an additional 19,359 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.16% of Dorian LPG worth $1,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake 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. Charles Schwab Investment Management Inc. increased its stake in Dorian LPG by 10.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 580,771 shares of the shipping company's stock worth $12,974,000 after acquiring an additional 56,432 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Dorian LPG by 20.1% in the 4th quarter. Northern Trust Corp now owns 418,569 shares of the shipping company's stock valued at $10,201,000 after acquiring an additional 70,046 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Dorian LPG by 9.1% in the 4th quarter. Focus Partners Wealth now owns 248,650 shares of the shipping company's stock worth $6,060,000 after buying an additional 20,830 shares during the last quarter. Finally, Sparta 24 Ltd. bought a new stake in shares of Dorian LPG during the 1st quarter worth $5,036,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on LPG shares. Zacks Research cut shares of Dorian LPG from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Jefferies Financial Group boosted their price target on shares of Dorian LPG from $33.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Wall Street Zen raised Dorian LPG from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Dorian LPG Trading Down 1.9%

Shares of NYSE LPG traded down $0.59 during midday trading on Thursday, hitting $31.00. 387,983 shares of the company traded hands, compared to its average volume of 720,838. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.30 and a current ratio of 3.32. Dorian LPG Ltd. has a 12-month low of $16.66 and a 12-month high of $37.16. The stock has a 50-day moving average price of $29.71 and a 200 day moving average price of $24.66. The firm has a market cap of $1.32 billion, a P/E ratio of 26.97 and a beta of 0.82.

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 for the quarter, missing analysts' consensus estimates of $0.61 by ($0.34). The business had revenue of $84.21 million for the quarter, compared to the consensus estimate of $86.53 million. Dorian LPG had a net margin of 15.15% and a return on equity of 5.24%. Dorian LPG's revenue for the quarter was down 26.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 EPS. As a group, analysts expect that Dorian LPG Ltd. will post 2.6 earnings per share for the current year.

Dorian LPG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 12th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date was Tuesday, August 12th.

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.