Dorian LPG (NYSE:LPG) Releases Earnings Results, Misses Expectations By $0.06 EPS

Dorian LPG (NYSE:LPG – Get Rating) issued its earnings results on Thursday. The shipping company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.06), MarketWatch Earnings reports. Dorian LPG had a net margin of 27.39% and a return on equity of 7.50%. Dorian LPG updated its Q4 2022 guidance to EPS.

Dorian LPG stock opened at $16.86 on Friday. The stock has a market cap of $676.74 million, a P/E ratio of 9.21 and a beta of 1.08. The company has a quick ratio of 2.27, a current ratio of 2.29 and a debt-to-equity ratio of 0.55. Dorian LPG has a twelve month low of $10.77 and a twelve month high of $18.50. The company’s 50-day moving average price is $15.42 and its two-hundred day moving average price is $13.78.

The business also recently declared a Variable dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Monday, May 16th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Friday, May 13th. Dorian LPG’s dividend payout ratio is currently 245.90%.

In other news, CEO John Lycouris sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $15.81, for a total transaction of $158,100.00. Following the transaction, the chief executive officer now directly owns 221,722 shares of the company’s stock, valued at $3,505,424.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Theodore B. Young sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $15.37, for a total transaction of $192,125.00. Following the transaction, the chief financial officer now directly owns 110,576 shares in the company, valued at $1,699,553.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 548,700 shares of company stock worth $8,098,519. Insiders own 28.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LPG. Cubist Systematic Strategies LLC bought a new position in shares of Dorian LPG in the 4th quarter valued at $525,000. BNP Paribas Arbitrage SA lifted its position in shares of Dorian LPG by 30.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 31,675 shares of the shipping company’s stock worth $393,000 after buying an additional 7,460 shares during the last quarter. State of Tennessee Treasury Department lifted its position in shares of Dorian LPG by 59.9% during the 4th quarter. State of Tennessee Treasury Department now owns 29,998 shares of the shipping company’s stock worth $381,000 after buying an additional 11,241 shares during the last quarter. UBS Group AG lifted its position in shares of Dorian LPG by 33.3% during the 1st quarter. UBS Group AG now owns 24,196 shares of the shipping company’s stock worth $350,000 after buying an additional 6,039 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its position in shares of Dorian LPG by 13.3% during the 1st quarter. Engineers Gate Manager LP now owns 24,090 shares of the shipping company’s stock worth $349,000 after buying an additional 2,830 shares during the last quarter. Hedge funds and other institutional investors own 82.52% of the company’s stock.

Separately, StockNews.com initiated coverage on shares of Dorian LPG in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

About Dorian LPG (Get Rating)

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. The company owns and operates very large gas carriers (VLGCs). As of May 19, 2021, its fleet consisted of twenty-three VLGCs. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.

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