Cubist Systematic Strategies LLC Acquires 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 lifted its holdings in Dorian LPG Ltd. (NYSE:LPG - Free Report) by 40.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,681 shares of the shipping company's stock after buying 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 SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LPG. Sparta 24 Ltd. purchased a new stake in shares of Dorian LPG in the 1st quarter worth about $5,036,000. Voloridge Investment Management LLC purchased a new stake in shares of Dorian LPG in the 4th quarter worth about $4,669,000. American Century Companies Inc. grew its position in shares of 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 buying an additional 108,769 shares during the period. Teza Capital Management LLC grew its position in shares of Dorian LPG by 1,025.9% in the 4th quarter. Teza Capital Management LLC now owns 102,072 shares of the shipping company's stock worth $2,487,000 after buying an additional 93,006 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in Dorian LPG by 147.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 154,814 shares of the shipping company's stock valued at $3,459,000 after purchasing an additional 92,286 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Dorian LPG Stock Performance

Shares of NYSE LPG traded up $0.19 during trading on Friday, reaching $31.74. 484,159 shares of the company traded hands, compared to its average volume of 522,986. The firm has a 50 day simple moving average of $29.94 and a 200-day simple moving average of $24.80. The company has a quick ratio of 3.30, a current ratio of 3.32 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $1.35 billion, a PE ratio of 27.60 and a beta of 0.82. Dorian LPG Ltd. has a 52-week low of $16.66 and a 52-week high of $37.16.

Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.34). The company had revenue of $84.21 million for the quarter, compared to analysts' expectations of $86.53 million. Dorian LPG had a net margin of 15.15% and a return on equity of 5.24%. The business's revenue was down 26.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 EPS. Equities research analysts anticipate that Dorian LPG Ltd. will post 2.6 earnings per share for the current year.

Dorian LPG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 12th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Tuesday, August 12th.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LPG. Jefferies Financial Group increased their price objective on shares of Dorian LPG from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Zacks Research downgraded shares of Dorian LPG from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, Wall Street Zen upgraded 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 issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $35.00.

Dorian LPG Company Profile

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.