Dorian LPG Ltd. (LPG) Raised to Hold at Zacks Investment Research
Dorian LPG Ltd. (NYSE:LPG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Dorian LPG Ltd is a liquefied petroleum gas shipping company. It is primarily focused on owning and operating Very Large Gas Carriers (VLGCs). The Company offers its services worldwide. Dorian LPG Ltd is headquartered in the United States. “
Several other research analysts have also commented on LPG. Pareto Securities raised Dorian LPG from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, June 12th. UBS AG set a $8.00 price target on Dorian LPG and gave the stock a “buy” rating in a research report on Saturday, June 17th. ValuEngine raised Dorian LPG from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Finally, BidaskClub lowered Dorian LPG from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $9.00.
Shares of Dorian LPG (LPG) traded down 0.95% during trading on Wednesday, reaching $7.28. 113,208 shares of the company traded hands. The stock’s 50 day moving average is $7.16 and its 200 day moving average is $8.15. Dorian LPG has a 1-year low of $5.63 and a 1-year high of $12.50. The company’s market capitalization is $393.67 million.
Dorian LPG (NYSE:LPG) last released its quarterly earnings results on Monday, July 31st. The shipping company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). The company had revenue of $41.00 million for the quarter, compared to analyst estimates of $37.65 million. Dorian LPG had a negative return on equity of 4.16% and a negative net margin of 4.33%. The firm’s revenue was down 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. On average, analysts forecast that Dorian LPG will post ($0.45) EPS for the current year.
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In other news, insider John C. Hadjipateras sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $7.55, for a total value of $1,887,500.00. Following the transaction, the insider now owns 2,037,020 shares of the company’s stock, valued at $15,379,501. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 26.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in LPG. Voya Investment Management LLC increased its holdings in shares of Dorian LPG by 21.3% in the second quarter. Voya Investment Management LLC now owns 15,747 shares of the shipping company’s stock valued at $129,000 after purchasing an additional 2,763 shares during the period. American International Group Inc. increased its holdings in shares of Dorian LPG by 7.1% in the first quarter. American International Group Inc. now owns 14,921 shares of the shipping company’s stock valued at $157,000 after purchasing an additional 987 shares during the period. Eagle Global Advisors LLC acquired a new position in shares of Dorian LPG in the second quarter valued at approximately $165,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Dorian LPG in the first quarter valued at approximately $173,000. Finally, Citadel Advisors LLC increased its holdings in shares of Dorian LPG by 32.8% in the first quarter. Citadel Advisors LLC now owns 17,041 shares of the shipping company’s stock valued at $179,000 after purchasing an additional 4,208 shares during the period. 45.63% of the stock is currently owned by institutional investors and hedge funds.
Dorian LPG Company Profile
Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.
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