Short Interest in BW LPG Limited (NYSE:BWLP) Drops By 25.8%

Key Points

• Short interest in BW LPG Limited decreased by 25.8% in September, totaling 1,640,000 shares, with approximately 2.0% of the stock sold short.
• A quarterly dividend of $0.22 per share was declared on September 15th, representing a 6.4% dividend yield and a $0.88 annualized dividend.
• The company reported earnings of $0.23 per share for the last quarter, missing analysts' expectations, with a revenue of $153 million compared to forecasts of $170 million.

BW LPG Limited (NYSE:BWLP - Get Free Report) saw a large decline in short interest in September. As of September 15th, there was short interest totaling 1,640,000 shares, a decline of 25.8% from the August 31st total of 2,210,000 shares. Approximately 2.0% of the company's stock are sold short. Based on an average daily volume of 370,300 shares, the short-interest ratio is presently 4.4 days. Based on an average daily volume of 370,300 shares, the short-interest ratio is presently 4.4 days. Approximately 2.0% of the company's stock are sold short.

Hedge Funds Weigh In On BW LPG

A number of institutional investors and hedge funds have recently modified their holdings of BWLP. Raymond James Financial Inc. bought a new position in BW LPG in the second quarter valued at about $47,000. Osaic Holdings Inc. grew its position in BW LPG by 24.6% during the second quarter. Osaic Holdings Inc. now owns 7,086 shares of the company's stock valued at $84,000 after buying an additional 1,400 shares during the period. Quantbot Technologies LP bought a new stake in BW LPG during the second quarter valued at approximately $98,000. JPMorgan Chase & Co. increased its holdings in BW LPG by 26.2% during the second quarter. JPMorgan Chase & Co. now owns 8,435 shares of the company's stock valued at $100,000 after buying an additional 1,749 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new position in BW LPG in the second quarter worth approximately $130,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of BW LPG in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy".

BW LPG Price Performance

NYSE BWLP opened at $13.78 on Tuesday. BW LPG has a one year low of $7.86 and a one year high of $16.60. The stock has a 50-day moving average of $15.00 and a 200 day moving average of $12.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.22 and a current ratio of 1.27. The company has a market capitalization of $1.81 billion and a price-to-earnings ratio of 8.95.

BW LPG (NYSE:BWLP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 26th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.03). BW LPG had a net margin of 6.09% and a return on equity of 11.70%. The company had revenue of $153.00 million for the quarter, compared to analysts' expectations of $170.09 million.

BW LPG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, September 5th. BW LPG's dividend payout ratio is presently 57.14%.

About BW LPG

BW LPG Limited, an investment holding company, engages in ship owning and chartering activities worldwide. The company operates through Shipping and Product Services segments. The company involved in the transportation of liquefied petroleum gas to oil companies, and trading and utility companies. It also offers integrated liquified petroleum gas (LPG) delivery services and support; wholesale and trade of LPG; and management services.

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