Dorian LPG (NYSE:LPG) Raised to Buy at Zacks Investment Research
Dorian LPG (NYSE:LPG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, January 4th. The firm currently has a $9.50 target price on the shipping company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 23.22% from the company’s current price.
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 recently issued reports on the stock. ValuEngine upgraded shares of Dorian LPG from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. DNB Markets cut shares of Dorian LPG from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.17.
In related news, Director Christina Tan purchased 10,000 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was acquired at an average price of $7.00 per share, for a total transaction of $70,000.00. Following the acquisition, the director now directly owns 39,475 shares of the company’s stock, valued at approximately $276,325. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Group Ltd Bw purchased 726,460 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $7.53 per share, with a total value of $5,470,243.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,836,460 shares of company stock valued at $13,570,244. 26.50% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of LPG. Macquarie Group Ltd. purchased a new position in Dorian LPG during the 3rd quarter valued at about $120,000. Voya Investment Management LLC boosted its stake in shares of Dorian LPG by 21.3% during the 2nd quarter. Voya Investment Management LLC now owns 15,747 shares of the shipping company’s stock worth $129,000 after purchasing an additional 2,763 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Dorian LPG during the 3rd quarter worth about $199,000. Alliancebernstein L.P. boosted its stake in shares of Dorian LPG by 24.4% during the 2nd quarter. Alliancebernstein L.P. now owns 29,100 shares of the shipping company’s stock worth $238,000 after purchasing an additional 5,700 shares during the last quarter. Finally, Foundation Resource Management Inc. acquired a new stake in shares of Dorian LPG during the 4th quarter worth about $389,000. Hedge funds and other institutional investors own 47.97% of the company’s stock.
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About Dorian LPG
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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