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

Dorian LPG (NYSE:LPGGet Rating) announced its earnings results on Thursday. The shipping company reported $0.62 EPS for the quarter, missing the consensus estimate 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.

Shares of NYSE:LPG opened at $16.86 on Friday. The firm has a fifty day moving average of $15.42 and a two-hundred day moving average of $13.78. The firm has a market capitalization of $676.74 million, a P/E ratio of 9.21 and a beta of 1.08. Dorian LPG has a 12-month low of $10.77 and a 12-month high of $18.50. The company has a quick ratio of 2.27, a current ratio of 2.29 and a debt-to-equity ratio of 0.55.

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

Separately, StockNews.com began coverage on Dorian LPG in a report on Thursday, March 31st. They set a “hold” rating for the company.

In other news, CFO Theodore B. Young sold 12,500 shares of the firm’s stock in a transaction on Friday, April 8th. The shares were sold at an average price of $15.37, for a total transaction of $192,125.00. Following the transaction, the chief financial officer now owns 110,576 shares in the company, valued at approximately $1,699,553.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Jason Coleman sold 60,000 shares of the firm’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $14.61, for a total transaction of $876,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 548,700 shares of company stock valued at $8,098,519 in the last three months. Company insiders own 28.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in LPG. Morgan Stanley raised its holdings in shares of Dorian LPG by 33.8% during the 2nd quarter. Morgan Stanley now owns 330,301 shares of the shipping company’s stock valued at $4,664,000 after purchasing an additional 83,463 shares in the last quarter. Royal Bank of Canada raised its holdings in Dorian LPG by 22.3% in the 3rd quarter. Royal Bank of Canada now owns 12,577 shares of the shipping company’s stock worth $156,000 after acquiring an additional 2,291 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Dorian LPG by 30.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 31,675 shares of the shipping company’s stock worth $393,000 after acquiring an additional 7,460 shares during the period. Bank of New York Mellon Corp raised its holdings in Dorian LPG by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 286,161 shares of the shipping company’s stock worth $3,550,000 after acquiring an additional 7,114 shares during the period. Finally, Bank of America Corp DE raised its holdings in Dorian LPG by 27.7% in the 4th quarter. Bank of America Corp DE now owns 61,400 shares of the shipping company’s stock worth $780,000 after acquiring an additional 13,313 shares during the period. Institutional investors and hedge funds own 82.52% of the company’s stock.

Dorian LPG Company Profile (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.

See Also

Earnings History for Dorian LPG (NYSE:LPG)

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