Dorian LPG (NYSE:LPG) CFO Sells $483,563.25 in Stock

Key Points

• CFO Theodore Young sold 9,081 Dorian LPG shares at an average price of $53.25, generating $483,563.25 and reducing his direct holdings by 6.79% to 124,713 shares.
• Dorian LPG reported strong quarterly results, with EPS of $2.52 beating estimates by $0.40 and revenue rising 123.1% year over year to $187.88 million. The company also paid a special $1.00-per-share dividend.
• Shares recently traded near $53.54, close to the 52-week high of $55.28. Analysts maintain a consensus “Buy” rating with an average price target of $55.00.

Dorian LPG Ltd. (NYSE:LPG - Get Free Report) CFO Theodore Young sold 9,081 shares of the business's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $53.25, for a total value of $483,563.25. Following the completion of the transaction, the chief financial officer directly owned 124,713 shares of the company's stock, valued at approximately $6,640,967.25. This trade represents a 6.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Dorian LPG Stock Performance

Shares of LPG stock traded up $0.05 during trading hours on Wednesday, reaching $53.54. The company had a trading volume of 605,238 shares, compared to its average volume of 508,527. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26. The business has a fifty day moving average price of $45.85 and a 200-day moving average price of $40.59. Dorian LPG Ltd. has a one year low of $23.76 and a one year high of $55.28. The firm has a market cap of $2.29 billion, a PE ratio of 7.09 and a beta of 0.61.

Dorian LPG (NYSE:LPG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The shipping company reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.40. The business had revenue of $187.88 million during the quarter, compared to the consensus estimate of $160.78 million. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The firm's revenue was up 123.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 EPS.

Dorian LPG Dividend Announcement

The business also recently announced a special dividend, which was paid on Wednesday, August 12th. Stockholders of record on Monday, July 27th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, July 27th.

Institutional Investors Weigh In On Dorian LPG

Hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its stake in Dorian LPG by 4.4% in the second quarter. Sequoia Financial Advisors LLC now owns 7,341 shares of the shipping company's stock valued at $255,000 after purchasing an additional 307 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Dorian LPG by 14.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,590 shares of the shipping company's stock worth $89,000 after acquiring an additional 318 shares in the last quarter. IHT Wealth Management LLC lifted its position in Dorian LPG by 2.1% during the fourth quarter. IHT Wealth Management LLC now owns 17,804 shares of the shipping company's stock valued at $433,000 after acquiring an additional 365 shares during the last quarter. WINTON GROUP Ltd boosted its stake in Dorian LPG by 0.8% in the fourth quarter. WINTON GROUP Ltd now owns 44,640 shares of the shipping company's stock valued at $1,087,000 after acquiring an additional 373 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Dorian LPG by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 13,286 shares of the shipping company's stock valued at $324,000 after acquiring an additional 390 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on LPG. Jefferies Financial Group raised their target price on shares of Dorian LPG from $42.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Dorian LPG in a research note on Tuesday, August 25th. Wall Street Zen raised Dorian LPG from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 25th. Freedom Capital raised Dorian LPG from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Finally, Pareto Securities reiterated a "buy" rating on shares of Dorian LPG in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $55.00.

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.