Dorian LPG Ltd. (LPG) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Dorian LPG Ltd. (NYSE:LPG) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

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. “

LPG has been the topic of a number of other reports. UBS AG set a $8.00 price target on shares of Dorian LPG and gave the stock a buy rating in a research report on Saturday, June 17th. BidaskClub lowered shares of Dorian LPG from a sell rating to a strong sell rating in a research report on Tuesday, August 8th. Pareto Securities upgraded shares of Dorian LPG from a hold rating to a buy rating and set a $10.00 price target on the stock in a research report on Monday, June 12th. Finally, ValuEngine upgraded shares of Dorian LPG from a sell rating to a hold rating in a research report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $10.00.

Dorian LPG (NYSE LPG) opened at 6.69 on Tuesday. The company has a 50-day moving average of $7.54 and a 200 day moving average of $8.88. The company’s market cap is $361.77 million. Dorian LPG has a one year low of $5.07 and a one year high of $12.50.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings results on Monday, July 31st. The shipping company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16). The firm had revenue of $41 million for the quarter, compared to analyst estimates of $37.65 million. Dorian LPG had a negative net margin of 4.33% and a negative return on equity of 4.16%. Dorian LPG’s quarterly revenue was down 17.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 earnings per share. Analysts anticipate that Dorian LPG will post ($0.44) earnings per share for the current year.

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In other Dorian LPG news, insider John C. Hadjipateras sold 250,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $7.55, for a total value of $1,887,500.00. Following the transaction, the insider now directly owns 2,037,020 shares in the company, valued at approximately $15,379,501. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 26.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC bought a new stake in Dorian LPG during the first quarter worth about $12,258,000. Royce & Associates LP increased its stake in Dorian LPG by 41.7% in the second quarter. Royce & Associates LP now owns 1,044,831 shares of the shipping company’s stock worth $8,547,000 after buying an additional 307,597 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Dorian LPG during the second quarter worth about $2,487,000. Dimensional Fund Advisors LP increased its stake in Dorian LPG by 29.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,331,436 shares of the shipping company’s stock worth $14,020,000 after buying an additional 299,021 shares during the period. Finally, Global X Management Co. LLC increased its stake in Dorian LPG by 22.5% in the second quarter. Global X Management Co. LLC now owns 608,078 shares of the shipping company’s stock worth $4,974,000 after buying an additional 111,551 shares during the period. 48.38% of the stock is currently owned by institutional investors and hedge funds.

About Dorian LPG

Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.

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