Dorian LPG (NYSE:LPG) Shares Down 3.4% – What’s Next?

Dorian LPG Ltd. (NYSE:LPG)’s stock price dropped 3.4% during mid-day trading on Friday . The company traded as low as $23.48 and last traded at $23.37. Approximately 128,390 shares were traded during trading, a decline of 82% from the average daily volume of 701,224 shares. The stock had previously closed at $24.20.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $42.00 target price on shares of Dorian LPG in a report on Thursday, October 31st.

Dorian LPG Price Performance

The company has a current ratio of 4.22, a quick ratio of 4.20 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $24.56 and a 200-day simple moving average of $31.65. The firm has a market cap of $1.01 billion, a PE ratio of 4.02 and a beta of 0.93.

Dorian LPG (NYSE:LPG) last released its earnings results on Thursday, October 31st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.17). Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The business had revenue of $82.40 million for the quarter, compared to analysts’ expectations of $82.40 million. During the same quarter in the prior year, the business posted $1.85 EPS. The business’s revenue for the quarter was down 43.1% compared to the same quarter last year. Equities analysts anticipate that Dorian LPG Ltd. will post 2.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dorian LPG

Institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings in shares of Dorian LPG by 20.8% during the 4th quarter. Pacer Advisors Inc. now owns 4,127,317 shares of the shipping company’s stock worth $100,583,000 after acquiring an additional 711,313 shares in the last quarter. State Street Corp increased its position in Dorian LPG by 3.6% in the third quarter. State Street Corp now owns 1,357,420 shares of the shipping company’s stock worth $46,722,000 after purchasing an additional 47,780 shares during the last quarter. Geode Capital Management LLC raised its stake in Dorian LPG by 9.1% during the third quarter. Geode Capital Management LLC now owns 964,222 shares of the shipping company’s stock valued at $33,195,000 after purchasing an additional 80,757 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Dorian LPG by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 471,768 shares of the shipping company’s stock valued at $16,238,000 after purchasing an additional 34,344 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Dorian LPG by 435.3% in the 2nd quarter. Marshall Wace LLP now owns 457,119 shares of the shipping company’s stock worth $19,181,000 after buying an additional 371,724 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Dorian LPG Company Profile

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.