Dorian LPG (NYSE:LPG) Stock Price Down 4.9% - What's Next?

Key Points

• Dorian LPG shares fell 4.9% to about $53.87 in midday trading, with volume below its daily average. Despite the decline, the stock remains above its 50-day and 200-day moving averages.
• The company 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. It also paid a special $1.00 dividend.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a $55 price target, although insiders sold 126,000 shares worth approximately $6.16 million over the past three months.

Dorian LPG Ltd. (NYSE:LPG - Get Free Report) was down 4.9% during mid-day trading on Tuesday . The stock traded as low as $53.80 and last traded at $53.8650. 329,489 shares changed hands during trading, a decline of 46% from the average daily volume of 606,385 shares. The stock had previously closed at $56.64.

Analyst Upgrades and Downgrades

LPG has been the subject of several analyst reports. Freedom Capital upgraded Dorian LPG from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Wall Street Zen raised Dorian LPG from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 25th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Dorian LPG in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $55.00.

Dorian LPG Trading Down 4.7%

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 company has a 50 day moving average price of $48.73 and a two-hundred day moving average price of $41.75. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 7.17 and a beta of 0.61.

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

Dorian LPG Announces Dividend

The company also recently disclosed a special dividend, which was paid on Wednesday, August 12th. Shareholders of record on Monday, July 27th were issued a $1.00 dividend. The ex-dividend date was Monday, July 27th.

Insider Buying and Selling

In related news, insider Tim Hansen sold 50,000 shares of the company's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $53.12, for a total transaction of $2,656,000.00. Following the completion of the sale, the insider owned 107,675 shares of the company's stock, valued at approximately $5,719,696. This represents a 31.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Alexander Hadjipateras sold 5,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.13, for a total transaction of $270,650.00. Following the completion of the sale, the chief operating officer owned 95,836 shares of the company's stock, valued at approximately $5,187,602.68. The trade was a 4.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 126,000 shares of company stock worth $6,163,449. 13.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Dorian LPG

A number of institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC increased its stake in shares of Dorian LPG by 4.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,341 shares of the shipping company's stock worth $255,000 after acquiring an additional 307 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Dorian LPG during the 2nd quarter worth $57,000. Allworth Financial LP boosted its position in shares of Dorian LPG by 65.9% during the 2nd quarter. Allworth Financial LP now owns 1,206 shares of the shipping company's stock valued at $42,000 after acquiring an additional 479 shares during the last quarter. Corient Private Wealth LP acquired a new position in shares of Dorian LPG during the 2nd quarter valued at about $253,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Dorian LPG in the second quarter valued at about $1,478,000. Hedge funds and other institutional investors own 62.50% of the company's stock.

About Dorian LPG

Dorian LPG Ltd. NYSE: LPG is a maritime transportation company that owns and operates very large gas carriers (VLGCs). The company primarily transports liquefied petroleum gas (LPG), including propane and butane, for energy producers, commodity traders and other customers in international markets.

Dorian LPG's fleet is designed for the ocean transportation of LPG between major exporting and importing regions. Its vessels support global trade routes linking LPG-producing areas, including the United States and the Middle East, with demand centers in Asia, Europe and other regions.

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