Dorian LPG Ltd. (LPG) Downgraded by Zacks Investment Research to Sell
Dorian LPG Ltd. (NYSE:LPG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, July 12th.
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 analysts have also recently issued reports on LPG. Pareto Securities upgraded Dorian LPG from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Monday, June 12th. UBS AG set a $8.00 price objective on Dorian LPG and gave the company a “buy” rating in a research note on Saturday, June 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Dorian LPG has a consensus rating of “Hold” and an average price target of $10.00.
Dorian LPG (LPG) opened at 7.07 on Wednesday. Dorian LPG has a one year low of $5.07 and a one year high of $12.50. The stock has a 50 day moving average price of $7.87 and a 200-day moving average price of $9.23. The stock’s market capitalization is $382.32 million.
Dorian LPG (NYSE:LPG) last announced its quarterly earnings data on Monday, July 31st. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). The business 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 revenue for the quarter was down 17.6% compared to the same quarter last year. During the same period last year, the firm earned $0.06 earnings per share. Analysts anticipate that Dorian LPG will post ($0.32) earnings per share for the current year.
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In related 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 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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 26.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of LPG. Citadel Advisors LLC raised its position in 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 buying an additional 4,208 shares during the period. Dimensional Fund Advisors LP raised its position in Dorian LPG by 29.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,331,436 shares of the shipping company’s stock valued at $14,020,000 after buying an additional 299,021 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Dorian LPG during the first quarter valued at approximately $173,000. American International Group Inc. raised its position in 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 buying an additional 987 shares during the period. Finally, Prudential Financial Inc. raised its position in Dorian LPG by 37.0% in the first quarter. Prudential Financial Inc. now owns 199,400 shares of the shipping company’s stock valued at $2,099,000 after buying an additional 53,800 shares during the period. 47.89% of the stock is currently owned by hedge funds and other institutional investors.
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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