Dorian LPG (NYSE:LPG) Stock Rating Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Dorian LPG (NYSE:LPG) from a strong-buy rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

A number of other equities analysts have also commented on LPG. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dorian LPG in a report on Tuesday, August 25th. Freedom Capital raised shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $55.00.

Dorian LPG Stock Up 1.3%

NYSE:LPG opened at $46.66 on Friday. The firm’s 50 day simple moving average is $54.17 and its 200 day simple moving average is $42.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.20 and a quick ratio of 3.24. Dorian LPG has a one year low of $23.76 and a one year high of $59.97. The company has a market cap of $2.00 billion, a PE ratio of 4.16 and a beta of 0.64.

Dorian LPG (NYSE:LPG) last posted its earnings results on Thursday, November 5th. The shipping company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.61. Dorian LPG had a net margin of 70.38% and a return on equity of 31.49%. The firm had revenue of $221.35 million for the quarter, compared to analyst estimates of $195.18 million. During the same period in the previous year, the firm posted $1.31 EPS. The company’s revenue for the quarter was up 78.4% compared to the same quarter last year.

Dorian LPG Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, November 9th will be paid a $1.25 dividend. The ex-dividend date is Monday, November 9th. Dorian LPG’s payout ratio is currently 8.90%.

Insider Activity

In related news, insider Tim Hansen sold 50,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $53.12, for a total transaction of $2,656,000.00. Following the transaction, the insider owned 107,675 shares in the company, valued at $5,719,696. The trade was a 31.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Theodore Young sold 11,919 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $54.50, for a total transaction of $649,585.50. Following the transaction, the chief financial officer directly owned 107,794 shares in the company, valued at approximately $5,874,773. This represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 106,000 shares of company stock worth $5,455,849 in the last quarter. 13.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dorian LPG

Several institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Dorian LPG in the 2nd quarter valued at about $37,000. KBC Group NV bought a new stake in Dorian LPG in the 1st quarter valued at about $38,000. Allworth Financial LP increased its position in Dorian LPG by 65.9% in the 2nd quarter. Allworth Financial LP now owns 1,206 shares of the shipping company’s stock valued at $42,000 after buying an additional 479 shares in the last quarter. Sterling Capital Management LLC increased its position in Dorian LPG by 80.3% in the 3rd quarter. Sterling Capital Management LLC now owns 941 shares of the shipping company’s stock valued at $52,000 after buying an additional 419 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Dorian LPG during the 2nd quarter worth approximately $57,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

About Dorian LPG

Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates liquefied petroleum gas (LPG) carriers. The company primarily transports propane, butane and other LPG products for energy companies, commodity traders and other commercial customers under time-charter, voyage-charter and other contractual arrangements.

Dorian LPG’s fleet is focused primarily on very large gas carriers (VLGCs), including modern, fuel-efficient vessels designed to transport LPG in large quantities over international trade routes.