Dorian LPG Ltd. $LPG Shares Sold by LPL Financial LLC

Key Points

• LPL Financial LLC reduced its stake in Dorian LPG Ltd. by 28.1%, selling over 32,000 shares in the first quarter, leaving them with approximately 82,506 shares valued at $1.84 million.
• Dorian LPG reported a quarterly earnings miss with earnings per share of $0.27, below the analysts' consensus estimate of $0.61, and experienced a 26.3% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.60, resulting in an annualized dividend of $2.40, which reflects a yield of 7.9%.

LPL Financial LLC lowered its position in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 28.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,506 shares of the shipping company's stock after selling 32,208 shares during the quarter. LPL Financial LLC owned 0.19% of Dorian LPG worth $1,843,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in Dorian LPG during the 4th quarter worth $37,000. Quarry LP raised its position in Dorian LPG by 155.3% during the 4th quarter. Quarry LP now owns 2,035 shares of the shipping company's stock worth $50,000 after buying an additional 1,238 shares during the last quarter. CWM LLC raised its position in Dorian LPG by 74.5% during the 1st quarter. CWM LLC now owns 2,591 shares of the shipping company's stock worth $58,000 after buying an additional 1,106 shares during the last quarter. GAMMA Investing LLC raised its position in Dorian LPG by 50.4% during the 1st quarter. GAMMA Investing LLC now owns 3,299 shares of the shipping company's stock worth $74,000 after buying an additional 1,105 shares during the last quarter. Finally, PharVision Advisers LLC purchased a new position in Dorian LPG during the 4th quarter worth $210,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

Analysts Set New Price Targets

LPG has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on shares of Dorian LPG from $33.00 to $35.00 and gave the company a "buy" rating in a report on Friday, July 11th. Wall Street Zen upgraded shares of Dorian LPG from a "sell" rating to a "hold" rating in a report on Sunday, June 1st. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Dorian LPG has an average rating of "Buy" and an average target price of $35.00.

Dorian LPG Price Performance

Shares of LPG traded up $0.8290 during trading hours on Friday, reaching $32.0990. The company had a trading volume of 481,827 shares, compared to its average volume of 628,841. The firm has a 50 day simple moving average of $28.08 and a 200-day simple moving average of $23.91. The company has a current ratio of 3.32, a quick ratio of 3.30 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 27.91 and a beta of 0.77. Dorian LPG Ltd. has a 12-month low of $16.66 and a 12-month high of $39.35.

Dorian LPG (NYSE:LPG - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The shipping company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.34). The business had revenue of $84.21 million during the quarter, compared to analyst estimates 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 was down 26.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. Research 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 disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 7.5%.

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.