Dorian LPG (NYSE:LPG) Shares Gap Down – Here’s Why

Dorian LPG Ltd. (NYSE:LPG) gapped down before the market opened on Friday . The stock had previously closed at $25.37, but opened at $24.37. Dorian LPG shares last traded at $23.57, with a volume of 207,592 shares traded.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a “buy” rating and set a $35.00 price target on shares of Dorian LPG in a research report on Friday.

Dorian LPG Trading Down 4.4 %

The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 4.09 and a beta of 0.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.22 and a quick ratio of 4.20. The firm’s 50-day simple moving average is $24.42 and its 200 day simple moving average is $31.07.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings results on Friday, January 31st. The shipping company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.08. Dorian LPG had a net margin of 47.87% and a return on equity of 23.75%. During the same quarter in the prior year, the firm earned $2.62 earnings per share. Equities analysts expect that Dorian LPG Ltd. will post 2.84 earnings per share for the current year.

Dorian LPG Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, February 27th. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, February 5th.

Hedge Funds Weigh In On Dorian LPG

Large investors have recently added to or reduced their stakes in the business. Beacon Capital Management LLC lifted its position in Dorian LPG by 61.1% in the 4th quarter. Beacon Capital Management LLC now owns 1,128 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 428 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Dorian LPG in the 4th quarter valued at about $37,000. Quarry LP increased its stake in Dorian LPG by 57.8% in the 2nd quarter. Quarry LP now owns 942 shares of the shipping company’s stock valued at $40,000 after buying an additional 345 shares during the last quarter. KBC Group NV increased its stake in Dorian LPG by 84.6% in the 4th quarter. KBC Group NV now owns 2,075 shares of the shipping company’s stock valued at $51,000 after buying an additional 951 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Dorian LPG by 126.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,247 shares of the shipping company’s stock worth $52,000 after purchasing an additional 697 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.