Viking Fund Management LLC Takes $219,000 Position in Dorian LPG Ltd. (NYSE:LPG)

Viking Fund Management LLC bought a new position in Dorian LPG Ltd. (NYSE:LPG) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 9,000 shares of the shipping company’s stock, valued at approximately $219,000.

A number of other large investors have also recently added to or reduced their stakes in LPG. Marshall Wace LLP boosted its stake in Dorian LPG by 435.3% during the 2nd quarter. Marshall Wace LLP now owns 457,119 shares of the shipping company’s stock valued at $19,181,000 after purchasing an additional 371,724 shares during the period. Pacer Advisors Inc. boosted its position in shares of Dorian LPG by 11.5% in the third quarter. Pacer Advisors Inc. now owns 3,416,004 shares of the shipping company’s stock valued at $117,579,000 after acquiring an additional 352,453 shares during the period. Empowered Funds LLC grew its stake in shares of Dorian LPG by 52.2% in the third quarter. Empowered Funds LLC now owns 290,445 shares of the shipping company’s stock worth $9,997,000 after acquiring an additional 99,650 shares during the last quarter. Geode Capital Management LLC increased its position 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 worth $33,195,000 after acquiring an additional 80,757 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Dorian LPG by 87.3% during the 3rd quarter. Victory Capital Management Inc. now owns 163,754 shares of the shipping company’s stock valued at $5,636,000 after purchasing an additional 76,334 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Analysts Set New Price Targets

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

Dorian LPG Stock Performance

NYSE LPG opened at $23.74 on Wednesday. Dorian LPG Ltd. has a twelve month low of $22.46 and a twelve month high of $51.66. The company has a quick ratio of 4.20, a current ratio of 4.22 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.02 billion, a P/E ratio of 4.02 and a beta of 0.93. The company’s 50-day simple moving average is $24.75 and its 200 day simple moving average is $31.90.

Dorian LPG (NYSE:LPG) last issued its earnings results on Thursday, October 31st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). The company had revenue of $82.40 million during the quarter, compared to analyst estimates of $82.40 million. Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The company’s quarterly revenue was down 43.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 earnings per share. As a group, research analysts forecast that Dorian LPG Ltd. will post 2.84 earnings per share for the current fiscal year.

Dorian LPG Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, November 25th. Stockholders of record on Tuesday, November 5th were issued a $1.00 dividend. The ex-dividend date of this dividend was Tuesday, November 5th.

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.