ProShare Advisors LLC Reduces Stake in Dorian LPG Ltd. (NYSE:LPG)

ProShare Advisors LLC reduced its stake in shares of Dorian LPG Ltd. (NYSE:LPG) by 23.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,302 shares of the shipping company’s stock after selling 1,644 shares during the period. ProShare Advisors LLC’s holdings in Dorian LPG were worth $222,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its position in Dorian LPG by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the shipping company’s stock worth $722,000 after purchasing an additional 300 shares during the period. Saxony Capital Management LLC boosted its holdings in Dorian LPG by 5.9% in the 1st quarter. Saxony Capital Management LLC now owns 5,572 shares of the shipping company’s stock worth $214,000 after buying an additional 309 shares during the period. Gallacher Capital Management LLC grew its stake in Dorian LPG by 4.9% in the 2nd quarter. Gallacher Capital Management LLC now owns 7,355 shares of the shipping company’s stock valued at $309,000 after buying an additional 343 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in Dorian LPG by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 29,842 shares of the shipping company’s stock valued at $1,148,000 after acquiring an additional 375 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Dorian LPG by 26.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,821 shares of the shipping company’s stock worth $80,000 after acquiring an additional 379 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DNB Markets upgraded Dorian LPG from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday, July 3rd.

Insider Activity

In related news, COO Alexander C. Hadjipateras sold 2,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $36.12, for a total value of $90,300.00. Following the completion of the transaction, the chief operating officer now directly owns 82,823 shares in the company, valued at approximately $2,991,566.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.90% of the company’s stock.

Dorian LPG Price Performance

Shares of NYSE:LPG opened at $35.81 on Friday. The company has a 50 day moving average of $36.58 and a 200 day moving average of $40.22. The company has a current ratio of 4.60, a quick ratio of 4.58 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.45 billion, a P/E ratio of 4.71 and a beta of 0.98. Dorian LPG Ltd. has a 12 month low of $26.78 and a 12 month high of $51.66.

Dorian LPG (NYSE:LPG) last released its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.23. The firm had revenue of $114.30 million during the quarter, compared to analyst estimates of $113.70 million. Dorian LPG had a net margin of 54.48% and a return on equity of 30.64%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.21 EPS. As a group, sell-side analysts forecast that Dorian LPG Ltd. will post 4.94 EPS for the current fiscal year.

Dorian LPG Dividend Announcement

The business also recently declared a None dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were paid a $1.00 dividend. The ex-dividend date was Thursday, August 8th. Dorian LPG’s dividend payout ratio is presently 13.16%.

About Dorian LPG

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 twenty-five very large gas carriers (VLGCs). The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.