Wells Fargo & Co upgraded shares of Dorian LPG (NYSE:LPG) from a market perform rating to an outperform rating in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. They currently have $15.00 price target on the shipping company’s stock, up from their prior price target of $8.00.
Several other analysts also recently issued reports on the stock. ValuEngine raised shares of United Overseas Bank from a sell rating to a hold rating in a report on Monday, June 17th. DNB Markets downgraded shares of Dorian LPG from a buy rating to a hold rating in a report on Friday, June 21st. Finally, Zacks Investment Research downgraded shares of EXACT Sciences from a hold rating to a sell rating in a report on Tuesday, July 2nd.
LPG stock traded up $0.05 during trading hours on Thursday, hitting $9.75. The company’s stock had a trading volume of 35,034 shares, compared to its average volume of 430,600. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.01. The stock has a market cap of $515.82 million, a P/E ratio of -12.41 and a beta of 1.20. Dorian LPG has a 12 month low of $5.26 and a 12 month high of $10.27. The stock has a 50 day moving average of $8.94.
Dorian LPG (NYSE:LPG) last posted its earnings results on Thursday, May 23rd. The shipping company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.07). The business had revenue of $34.47 million during the quarter, compared to the consensus estimate of $37.43 million. Dorian LPG had a negative return on equity of 4.65% and a negative net margin of 32.24%. On average, analysts predict that Dorian LPG will post -0.13 earnings per share for the current year.
In related news, CFO Theodore B. Young sold 4,500 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $9.36, for a total transaction of $42,120.00. Following the completion of the transaction, the chief financial officer now directly owns 122,253 shares in the company, valued at approximately $1,144,288.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Group Ltd Bw sold 87,466 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $9.72, for a total transaction of $850,169.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,119,054 shares of company stock valued at $10,225,914. Corporate insiders own 26.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in LPG. SeaBridge Investment Advisors LLC acquired a new position in shares of Dorian LPG in the 2nd quarter valued at $27,000. BNP Paribas Arbitrage SA raised its stake in shares of Dorian LPG by 97.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,103 shares of the shipping company’s stock valued at $39,000 after buying an additional 3,007 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Dorian LPG in the 1st quarter valued at $95,000. Bank of America Corp DE raised its stake in shares of Dorian LPG by 56.1% in the 4th quarter. Bank of America Corp DE now owns 19,717 shares of the shipping company’s stock valued at $115,000 after buying an additional 7,082 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of Dorian LPG by 131.5% in the 4th quarter. Citigroup Inc. now owns 22,702 shares of the shipping company’s stock valued at $132,000 after buying an additional 12,897 shares in the last quarter. Institutional investors own 53.88% of the company’s stock.
Dorian LPG Company Profile
Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.
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