Prudential Financial Inc. Has $2.10 Million Stake in Dorian LPG Ltd. (NYSE:LPG)
Prudential Financial Inc. raised its stake in shares of Dorian LPG Ltd. (NYSE:LPG) by 37.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,400 shares of the shipping company’s stock after buying an additional 53,800 shares during the period. Prudential Financial Inc. owned 0.37% of Dorian LPG worth $2,099,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Parametric Portfolio Associates LLC boosted its position in shares of Dorian LPG by 177.1% in the first quarter. Parametric Portfolio Associates LLC now owns 91,434 shares of the shipping company’s stock valued at $963,000 after buying an additional 58,440 shares during the last quarter. Gargoyle Investment Advisor L.L.C. purchased a new position in shares of Dorian LPG during the first quarter valued at approximately $150,000. Bank of New York Mellon Corp raised its stake in Dorian LPG by 17.7% in the first quarter. Bank of New York Mellon Corp now owns 73,254 shares of the shipping company’s stock worth $772,000 after buying an additional 11,034 shares during the period. Russell Investments Group Ltd. bought a new stake in Dorian LPG during the first quarter worth about $235,000. Finally, Acadian Asset Management LLC bought a new stake in Dorian LPG during the first quarter worth about $1,126,000. Institutional investors own 47.89% of the company’s stock.
Dorian LPG Ltd. (LPG) traded up 0.28% during trading on Monday, hitting $7.07. 110,657 shares of the stock were exchanged. The stock’s market cap is $382.32 million. Dorian LPG Ltd. has a 1-year low of $5.07 and a 1-year high of $12.50. The firm’s 50 day moving average price is $7.87 and its 200-day moving average price is $9.23.
Dorian LPG (NYSE:LPG) last posted its quarterly earnings data on Monday, July 31st. The shipping company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $41 million for the quarter, compared to analysts’ expectations of $37.65 million. Dorian LPG had a negative return on equity of 4.16% and a negative net margin of 4.33%. The company’s quarterly revenue was down 17.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 EPS. On average, analysts anticipate that Dorian LPG Ltd. will post ($0.32) EPS for the current year.
A number of analysts have recently issued reports on LPG shares. Zacks Investment Research lowered shares of Dorian LPG from a “hold” rating to a “strong sell” rating in a research report on Friday, May 12th. Pareto Securities raised shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, June 12th. BidaskClub lowered shares of Dorian LPG from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. ValuEngine raised shares of Dorian LPG from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Finally, UBS AG set a $8.00 price objective on shares of Dorian LPG and gave the company a “buy” rating in a research report on Saturday, June 17th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $10.00.
In other Dorian LPG news, insider John C. Hadjipateras sold 250,000 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $7.55, for a total transaction of $1,887,500.00. Following the transaction, the insider now owns 2,037,020 shares in the company, valued at approximately $15,379,501. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 26.50% of the stock is owned by company insiders.
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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