BW LPG (NYSE:BWLP) Upgraded to Buy at Pareto Securities

Pareto Securities upgraded shares of BW LPG (NYSE:BWLP) from a hold rating to a buy rating in a report issued on Thursday, MarketBeat Ratings reports.

BW LPG Trading Up 12.4 %

BWLP stock opened at $13.43 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.34 and a quick ratio of 1.16. The stock’s fifty day simple moving average is $11.71 and its two-hundred day simple moving average is $13.68. BW LPG has a 1-year low of $9.95 and a 1-year high of $22.31.

BW LPG (NYSE:BWLP) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.79 earnings per share for the quarter.

BW LPG Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 12th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, December 12th. This represents a $1.68 annualized dividend and a dividend yield of 12.51%.

Institutional Trading of BW LPG

Hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in shares of BW LPG by 30.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 28,301 shares of the company’s stock worth $321,000 after purchasing an additional 6,601 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in BW LPG by 98.0% in the 4th quarter. Avior Wealth Management LLC now owns 5,862 shares of the company’s stock worth $67,000 after buying an additional 2,902 shares during the period. Public Employees Retirement System of Ohio purchased a new position in BW LPG in the 3rd quarter valued at approximately $476,000. XTX Topco Ltd raised its holdings in BW LPG by 75.1% during the 3rd quarter. XTX Topco Ltd now owns 25,671 shares of the company’s stock valued at $370,000 after acquiring an additional 11,013 shares during the period. Finally, Jane Street Group LLC bought a new stake in BW LPG during the 3rd quarter valued at $305,000.

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.