Lazard Asset Management LLC Makes New Investment in Dorian LPG Ltd. $LPG

Lazard Asset Management LLC acquired a new position in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 64,641 shares of the shipping company's stock, valued at approximately $2,211,000. Lazard Asset Management LLC owned 0.15% of Dorian LPG as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. KBC Group NV acquired a new stake in Dorian LPG during the first quarter worth about $38,000. Sunbelt Securities Inc. acquired a new position in Dorian LPG in the 3rd quarter valued at approximately $41,000. NewEdge Advisors LLC raised its holdings in 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 acquiring an additional 1,315 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position 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 worth $40,000 after acquiring an additional 1,340 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Dorian LPG in the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 62.50% of the company's stock.

Insiders Place Their Bets

In related news, Director Ted Kalborg sold 15,373 shares of Dorian LPG stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $45.06, for a total transaction of $692,707.38. Following the completion of the transaction, the director directly owned 66,348 shares of the company's stock, valued at $2,989,640.88. This trade represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tim Truels Hansen sold 20,000 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.38, for a total transaction of $707,600.00. Following the completion of the transaction, the insider owned 157,842 shares in the company, valued at approximately $5,584,449.96. This trade represents a 11.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 13.50% of the stock is currently owned by company insiders.

Dorian LPG Stock Down 0.5%

NYSE LPG opened at $47.20 on Monday. Dorian LPG Ltd. has a 1-year low of $23.76 and a 1-year high of $48.12. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 10.37 and a beta of 0.64. The stock's 50 day moving average is $41.34 and its two-hundred day moving average is $36.96. The company has a current ratio of 2.67, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40.

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

Dorian LPG Dividend Announcement

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

Analyst Ratings Changes

LPG has been the topic of a number of research reports. Freedom Capital cut Dorian LPG from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 22nd. Jefferies Financial Group raised their target price on Dorian LPG from $42.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of Dorian LPG from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 25th. Weiss Ratings raised shares of Dorian LPG from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, May 28th. Finally, Pareto Securities restated a "buy" rating on shares of Dorian LPG in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Dorian LPG Profile

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.

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