Dorian LPG Ltd. (NYSE:LPG) Sees Significant Decrease in Short Interest

Dorian LPG Ltd. (NYSE:LPG) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,240,000 shares, a drop of 19.5% from the August 15th total of 1,540,000 shares. Based on an average daily volume of 589,400 shares, the short-interest ratio is presently 2.1 days. Currently, 3.7% of the company’s shares are short sold.

Dorian LPG Stock Up 3.0 %

LPG stock traded up $0.81 during mid-day trading on Monday, reaching $28.09. 153,678 shares of the company traded hands, compared to its average volume of 618,476. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 5.60 and a beta of 1.17. The company has a quick ratio of 2.47, a current ratio of 2.50 and a debt-to-equity ratio of 0.67. Dorian LPG has a fifty-two week low of $12.90 and a fifty-two week high of $30.09. The firm’s 50 day moving average price is $26.63 and its 200 day moving average price is $23.95.

Dorian LPG (NYSE:LPG) last posted its earnings results on Wednesday, August 2nd. The shipping company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.43). Dorian LPG had a return on equity of 22.93% and a net margin of 46.96%. The firm had revenue of $111.56 million for the quarter. During the same quarter in the prior year, the company posted $0.56 earnings per share. As a group, equities research analysts predict that Dorian LPG will post 4.25 EPS for the current fiscal year.

Dorian LPG Announces Dividend

The company also recently announced a Variable dividend, which was paid on Wednesday, September 6th. Shareholders of record on Thursday, August 10th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, August 9th. Dorian LPG’s dividend payout ratio is currently 60.61%.

Insider Buying and Selling

In other Dorian LPG news, Director Thomas Jason Coleman sold 17,000 shares of the stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $24.60, for a total transaction of $418,200.00. Following the completion of the sale, the director now directly owns 298,000 shares in the company, valued at approximately $7,330,800. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Dorian LPG news, Director Thomas Jason Coleman sold 17,000 shares of the stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $24.60, for a total transaction of $418,200.00. Following the completion of the sale, the director now directly owns 298,000 shares in the company, valued at approximately $7,330,800. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Theodore B. Young sold 3,000 shares of the stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. Following the sale, the chief financial officer now owns 87,805 shares of the company’s stock, valued at $2,282,930. The disclosure for this sale can be found here. Insiders sold a total of 261,700 shares of company stock valued at $7,160,748 in the last three months. Insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Dorian LPG

Several hedge funds have recently modified their holdings of the company. Prosperity Wealth Management Inc. bought a new stake in shares of Dorian LPG in the 2nd quarter worth approximately $390,000. Osaic Holdings Inc. raised its holdings in shares of Dorian LPG by 134.1% in the 2nd quarter. Osaic Holdings Inc. now owns 73,758 shares of the shipping company’s stock worth $1,893,000 after purchasing an additional 42,250 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Dorian LPG by 5.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 10,780 shares of the shipping company’s stock worth $277,000 after purchasing an additional 556 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Dorian LPG by 27.6% in the 2nd quarter. Wells Fargo & Company MN now owns 51,558 shares of the shipping company’s stock worth $1,322,000 after purchasing an additional 11,165 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Dorian LPG by 180.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 43,658 shares of the shipping company’s stock worth $1,120,000 after purchasing an additional 28,099 shares during the period. Institutional investors own 64.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on LPG shares. StockNews.com upgraded Dorian LPG from a “hold” rating to a “buy” rating in a research note on Saturday, September 2nd. Jefferies Financial Group downgraded Dorian LPG from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Thursday, August 3rd. DNB Markets downgraded Dorian LPG from a “buy” rating to a “hold” rating and set a $26.90 target price for the company. in a research note on Monday, July 10th. Finally, Evercore ISI upgraded Dorian LPG from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $25.00 to $32.00 in a research note on Wednesday, May 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Dorian LPG currently has a consensus rating of “Hold” and an average price target of $26.98.

Dorian LPG Company Profile

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