Dorian LPG Ltd. (NYSE:LPG) Sees Large Drop in Short Interest

Dorian LPG Ltd. (NYSE:LPG) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 1,690,000 shares, a decline of 21.4% from the October 31st total of 2,150,000 shares. Approximately 4.3% of the shares of the company are sold short. Based on an average trading volume of 617,100 shares, the short-interest ratio is currently 2.7 days.

Dorian LPG Price Performance

NYSE:LPG traded up $0.09 during midday trading on Friday, hitting $24.47. 333,181 shares of the stock were exchanged, compared to its average volume of 724,050. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 4.15 and a beta of 1.00. The company has a current ratio of 4.22, a quick ratio of 4.20 and a debt-to-equity ratio of 0.48. Dorian LPG has a one year low of $23.92 and a one year high of $51.66. The business has a 50-day moving average price of $30.44 and a two-hundred day moving average price of $37.08.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings data on Thursday, October 31st. The shipping company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The firm had revenue of $82.40 million during the quarter, compared to the consensus estimate of $82.40 million. During the same period in the prior year, the firm posted $1.85 EPS. The firm’s quarterly revenue was down 43.1% on a year-over-year basis. Sell-side analysts predict that Dorian LPG will post 3.45 EPS for the current year.

Dorian LPG Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, November 25th. Shareholders of record on Tuesday, November 5th were issued a $1.00 dividend. The ex-dividend date was Tuesday, November 5th.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Dorian LPG in a report on Thursday, October 31st.

Hedge Funds Weigh In On Dorian LPG

Several large investors have recently made changes to their positions in the business. Pacer Advisors Inc. grew its holdings in shares of Dorian LPG by 22.4% in the 2nd quarter. Pacer Advisors Inc. now owns 3,063,551 shares of the shipping company’s stock worth $128,547,000 after acquiring an additional 560,325 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Dorian LPG by 435.3% in the 2nd quarter. Marshall Wace LLP now owns 457,119 shares of the shipping company’s stock valued at $19,181,000 after purchasing an additional 371,724 shares during the period. Vanguard Group Inc. increased its stake in Dorian LPG by 16.7% in the 1st quarter. Vanguard Group Inc. now owns 2,133,837 shares of the shipping company’s stock worth $82,067,000 after purchasing an additional 305,818 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Dorian LPG by 844.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 224,958 shares of the shipping company’s stock worth $8,653,000 after purchasing an additional 201,134 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Dorian LPG by 14.2% during the 2nd quarter. American Century Companies Inc. now owns 1,063,865 shares of the shipping company’s stock worth $44,640,000 after buying an additional 132,542 shares during the period. Institutional investors own 62.50% of the company’s stock.

Dorian LPG Company Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.