Dorian LPG (LPG) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Dorian LPG (NYSE:LPG) from a hold rating to a sell rating in a research note published on Wednesday.

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. “

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Separately, Clarkson Capital raised Dorian LPG from a neutral rating to a buy rating in a research report on Monday, February 12th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $9.17.

Shares of LPG opened at $7.67 on Wednesday. Dorian LPG has a 12-month low of $6.20 and a 12-month high of $10.36. 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 quarterly earnings data on Thursday, February 1st. The shipping company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.15. Dorian LPG had a negative return on equity of 2.29% and a negative net margin of 8.92%. The firm had revenue of $44.55 million for the quarter, compared to analysts’ expectations of $36.59 million. During the same period last year, the business posted ($0.36) earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. sell-side analysts forecast that Dorian LPG will post -0.55 earnings per share for the current year.

In related news, major shareholder Group Ltd Bw bought 1,100,000 shares of the company’s stock in a transaction on Friday, January 26th. The shares were purchased at an average cost of $7.30 per share, with a total value of $8,030,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 26.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its position in Dorian LPG by 29.4% in the fourth quarter. Millennium Management LLC now owns 82,051 shares of the shipping company’s stock worth $674,000 after buying an additional 18,627 shares during the period. TIAA CREF Investment Management LLC increased its position in Dorian LPG by 17.1% in the fourth quarter. TIAA CREF Investment Management LLC now owns 61,682 shares of the shipping company’s stock worth $507,000 after buying an additional 9,015 shares during the period. Teachers Advisors LLC increased its position in Dorian LPG by 18.3% in the fourth quarter. Teachers Advisors LLC now owns 42,770 shares of the shipping company’s stock worth $352,000 after buying an additional 6,609 shares during the period. Two Sigma Investments LP acquired a new stake in Dorian LPG in the fourth quarter worth $687,000. Finally, Deutsche Bank AG increased its position in Dorian LPG by 203.8% in the fourth quarter. Deutsche Bank AG now owns 53,862 shares of the shipping company’s stock worth $441,000 after buying an additional 36,131 shares during the period. 52.17% of the stock is currently owned by hedge funds and other institutional investors.

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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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