BW LPG (NYSE:BWLP) Shares Gap Up – Still a Buy?

BW LPG Limited (NYSE:BWLP) shares gapped up prior to trading on Tuesday . The stock had previously closed at $13.19, but opened at $13.50. BW LPG shares last traded at $13.53, with a volume of 34,877 shares changing hands.

BW LPG Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.45 and a current ratio of 1.63. The company has a 50-day moving average of $14.05.

BW LPG (NYSE:BWLP) last released its earnings results on Thursday, August 22nd. The company reported $0.58 EPS for the quarter. The firm had revenue of $876.49 million for the quarter.

BW LPG Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 17.21%. The ex-dividend date was Tuesday, September 10th.

Hedge Funds Weigh In On BW LPG

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Glenorchy Capital Ltd bought a new position in shares of BW LPG in the third quarter valued at approximately $712,000. Acadian Asset Management LLC acquired a new position in shares of BW LPG during the 2nd quarter valued at $56,598,000. DekaBank Deutsche Girozentrale bought a new stake in shares of BW LPG in the 2nd quarter worth $698,000. Assenagon Asset Management S.A. acquired a new stake in shares of BW LPG in the third quarter valued at $11,827,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in BW LPG during the second quarter valued at about $12,196,000.

About BW LPG

BW LPG Limited, an investment holding company, engages in ship owning and chartering activities worldwide. The company operates through Shipping and Product Services segments. The company involved in the transportation of liquefied petroleum gas to oil companies, and trading and utility companies. It also offers integrated liquified petroleum gas (LPG) delivery services and support; wholesale and trade of LPG; and management services.