Dorian LPG Ltd. (NYSE:LPG) posted its quarterly earnings results on Wednesday. The shipping company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.14, Bloomberg Earnings reports. The firm had revenue of $47.60 million for the quarter, compared to analysts’ expectations of $38.08 million. Dorian LPG had a negative net margin of 0.86% and a negative return on equity of 2.98%. The firm’s quarterly revenue was down 44.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share.
Dorian LPG (NYSE LPG) traded up 2.05% during mid-day trading on Friday, reaching $7.47. 241,115 shares of the company’s stock traded hands. The stock has a market capitalization of $402.27 million, a PE ratio of 24.33 and a beta of 1.22. Dorian LPG has a 12 month low of $5.07 and a 12 month high of $12.50. The firm’s 50-day moving average price is $8.34 and its 200 day moving average price is $9.37.
LPG has been the topic of several recent analyst reports. Pareto Securities raised shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday. Zacks Investment Research upgraded shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, April 4th.
A number of hedge funds and other institutional investors have recently modified their holdings of LPG. Oceanic Investment Management LTD boosted its position in shares of Dorian LPG by 28.3% in the fourth quarter. Oceanic Investment Management LTD now owns 1,420,897 shares of the shipping company’s stock valued at $11,666,000 after buying an additional 313,232 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $14,020,000 after buying an additional 299,021 shares during the period. HighTower Advisors LLC purchased a new position in shares of Dorian LPG during the first quarter valued at approximately $12,258,000. Royce & Associates LP boosted its position in shares of Dorian LPG by 164.9% in the fourth quarter. Royce & Associates LP now owns 751,534 shares of the shipping company’s stock valued at $6,170,000 after buying an additional 467,800 shares during the period. Finally, State Street Corp boosted its position in shares of Dorian LPG by 8.2% in the fourth quarter. State Street Corp now owns 351,876 shares of the shipping company’s stock valued at $2,891,000 after buying an additional 26,556 shares during the period. 47.59% of the stock is owned by hedge funds and other institutional investors.
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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