BW LPG (NYSE:BWLP) Shares Gap Down – Here’s Why

BW LPG Limited (NYSE:BWLP)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $11.22, but opened at $10.96. BW LPG shares last traded at $11.21, with a volume of 193,421 shares traded.

Wall Street Analyst Weigh In

Separately, Pareto Securities raised BW LPG from a “hold” rating to a “buy” rating in a report on Thursday, January 30th.

BW LPG Stock Performance

The firm has a market capitalization of $1.47 billion and a PE ratio of 4.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.34 and a quick ratio of 1.16. The business has a 50-day simple moving average of $12.13 and a 200-day simple moving average of $13.08.

BW LPG (NYSE:BWLP) last issued its earnings results on Thursday, February 27th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.04. The firm had revenue of $127.57 million during the quarter, compared to analysts’ expectations of $183.00 million.

BW LPG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 10th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 15.05%. The ex-dividend date is Monday, March 10th. BW LPG’s payout ratio is 63.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in shares of BW LPG by 600.5% during the 4th quarter. Bank of New York Mellon Corp now owns 770,219 shares of the company’s stock worth $8,750,000 after purchasing an additional 660,269 shares during the last quarter. Amundi boosted its stake in BW LPG by 22.4% in the fourth quarter. Amundi now owns 2,208,258 shares of the company’s stock valued at $25,152,000 after acquiring an additional 404,323 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of BW LPG in the third quarter valued at about $5,653,000. Boothbay Fund Management LLC purchased a new stake in shares of BW LPG in the fourth quarter valued at about $1,778,000. Finally, Citadel Advisors LLC acquired a new stake in shares of BW LPG in the fourth quarter valued at about $1,231,000.

About BW LPG

BW LPG Limited, an investment holding company, engages in ship owning and chartering activities worldwide. The company operates through Shipping and Product Services segments. The company involved in the transportation of liquefied petroleum gas to oil companies, and trading and utility companies. It also offers integrated liquified petroleum gas (LPG) delivery services and support; wholesale and trade of LPG; and management services.