Short Interest in Dorian LPG Ltd. (NYSE:LPG) Declines By 21.4%

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

Dorian LPG Stock Performance

Shares of LPG opened at $24.38 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.22 and a quick ratio of 4.20. The firm’s 50 day moving average is $30.64 and its 200-day moving average is $37.26. Dorian LPG has a 12-month low of $24.05 and a 12-month high of $51.66. The stock has a market capitalization of $1.04 billion, a P/E ratio of 4.13 and a beta of 1.00.

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

Dorian LPG Dividend Announcement

The business also recently declared a dividend, which was paid on Monday, November 25th. Investors of record on Tuesday, November 5th were given a $1.00 dividend. The ex-dividend date of this dividend was Tuesday, November 5th.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a “buy” rating and set a $42.00 price target on shares of Dorian LPG in a research report on Thursday, October 31st.

Hedge Funds Weigh In On Dorian LPG

A number of institutional investors have recently bought and sold shares of LPG. Quarry LP boosted its holdings in shares of Dorian LPG by 57.8% in the second quarter. Quarry LP now owns 942 shares of the shipping company’s stock worth $40,000 after buying an additional 345 shares during the period. GAMMA Investing LLC lifted its position in shares of Dorian LPG by 60.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,050 shares of the shipping company’s stock valued at $44,000 after acquiring an additional 395 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Dorian LPG by 126.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,247 shares of the shipping company’s stock worth $52,000 after purchasing an additional 697 shares during the period. CWM LLC grew its position in Dorian LPG by 285.4% during the 3rd quarter. CWM LLC now owns 2,058 shares of the shipping company’s stock worth $71,000 after purchasing an additional 1,524 shares in the last quarter. Finally, ORG Partners LLC purchased a new position in Dorian LPG during the 2nd quarter worth approximately $210,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

About Dorian LPG

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.