StockNews.com Lowers Dorian LPG (NYSE:LPG) to Hold

StockNews.com cut shares of Dorian LPG (NYSE:LPGGet Rating) from a buy rating to a hold rating in a report published on Monday.

Separately, Jefferies Financial Group boosted their price target on Dorian LPG from $20.00 to $22.00 and gave the company a buy rating in a research report on Wednesday, November 2nd.

Dorian LPG Price Performance

LPG stock opened at $19.47 on Monday. The stock has a 50-day moving average price of $16.36 and a two-hundred day moving average price of $15.91. Dorian LPG has a 12-month low of $10.77 and a 12-month high of $19.71. The company has a current ratio of 2.93, a quick ratio of 2.90 and a debt-to-equity ratio of 0.71. The company has a market cap of $785.61 million, a PE ratio of 8.05 and a beta of 1.15.

Dorian LPG Announces Dividend

The business also recently announced a Variable dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Monday, November 7th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, November 4th. Dorian LPG’s payout ratio is 227.27%.

Insider Transactions at Dorian LPG

In other news, Director Thomas Jason Coleman sold 75,000 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $15.63, for a total value of $1,172,250.00. Following the completion of the sale, the director now owns 2,250,000 shares of the company’s stock, valued at $35,167,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Theodore B. Young sold 12,500 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $19.00, for a total value of $237,500.00. Following the transaction, the chief financial officer now owns 98,440 shares in the company, valued at $1,870,360. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas Jason Coleman sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $15.63, for a total value of $1,172,250.00. Following the sale, the director now owns 2,250,000 shares in the company, valued at approximately $35,167,500. The disclosure for this sale can be found here. Insiders sold 427,500 shares of company stock valued at $7,221,640 over the last quarter. Company insiders own 28.60% of the company’s stock.

Institutional Trading of Dorian LPG

Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. grew its holdings in shares of Dorian LPG by 1,571.5% during the first quarter. Advisor Group Holdings Inc. now owns 6,870 shares of the shipping company’s stock valued at $100,000 after purchasing an additional 6,459 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Dorian LPG by 145.6% in the 1st quarter. New York State Common Retirement Fund now owns 116,785 shares of the shipping company’s stock worth $1,692,000 after buying an additional 69,236 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Dorian LPG by 637.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 168,394 shares of the shipping company’s stock valued at $2,440,000 after purchasing an additional 145,563 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in Dorian LPG by 34.1% during the 1st quarter. Qube Research & Technologies Ltd now owns 27,291 shares of the shipping company’s stock valued at $395,000 after purchasing an additional 6,943 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC bought a new position in Dorian LPG during the 1st quarter valued at $159,000. Institutional investors and hedge funds own 85.17% of the company’s stock.

About Dorian LPG

(Get Rating)

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. The company owns and operates very large gas carriers (VLGCs). As of May 27, 2022, its fleet consisted of twenty-two VLGCs. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.

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