Zacks Investment Research downgraded shares of Dorian LPG (NYSE:LPG) from a hold rating to a strong sell rating in a research note issued to investors on Saturday.
According to Zacks, “Dorian LPG Ltd is a liquefied petroleum gas shipping company. It is primarily focused on owning and operating Very Large Gas Carriers (VLGCs). The Company offers its services worldwide. Dorian LPG Ltd is headquartered in the United States. “
Separately, ValuEngine upgraded Dorian LPG from a sell rating to a hold rating in a report on Thursday, May 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $9.50.
Shares of LPG stock opened at $8.40 on Friday. Dorian LPG has a one year low of $6.20 and a one year high of $8.79. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 0.62.
Dorian LPG (NYSE:LPG) last announced its earnings results on Friday, June 15th. The shipping company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.06). Dorian LPG had a negative net margin of 12.80% and a negative return on equity of 3.42%. The company had revenue of $39.04 million during the quarter, compared to the consensus estimate of $40.37 million. During the same quarter in the previous year, the company earned $0.04 earnings per share. equities research analysts predict that Dorian LPG will post -0.56 earnings per share for the current year.
In other Dorian LPG news, CEO John Lycouris sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, April 13th. The stock was sold at an average price of $8.00, for a total value of $48,000.00. Following the transaction, the chief executive officer now directly owns 216,065 shares of the company’s stock, valued at $1,728,520. The sale was disclosed in a legal filing with the SEC, which is available through this link. 26.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. City Financial Investment Co Ltd acquired a new position in Dorian LPG in the first quarter valued at approximately $1,737,000. Millennium Management LLC lifted its stake in Dorian LPG by 195.2% in the first quarter. Millennium Management LLC now owns 242,212 shares of the shipping company’s stock valued at $1,814,000 after buying an additional 160,161 shares during the period. Element Capital Management LLC acquired a new position in Dorian LPG in the first quarter valued at approximately $105,000. Barclays PLC lifted its stake in Dorian LPG by 127.0% in the first quarter. Barclays PLC now owns 17,837 shares of the shipping company’s stock valued at $134,000 after buying an additional 9,980 shares during the period. Finally, Citadel Advisors LLC lifted its stake in Dorian LPG by 585.1% in the first quarter. Citadel Advisors LLC now owns 79,431 shares of the shipping company’s stock valued at $595,000 after buying an additional 67,837 shares during the period. 56.96% of the stock is currently owned by hedge funds and other institutional investors.
Dorian LPG Company Profile
Dorian LPG Ltd. operates as a liquefied petroleum gas (LPG) shipping company worldwide. The company engages in the transportation of LPG. It primarily serves energy companies and commodity traders through its fleet of 22 very large gas carriers with an aggregate carrying capacity of approximately 1.8 million cubic meters.
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