Geode Capital Management LLC Boosts Stake in Dorian LPG Ltd. (NYSE:LPG)

Geode Capital Management LLC raised its position in shares of Dorian LPG Ltd. (NYSE:LPG) by 9.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 964,222 shares of the shipping company’s stock after buying an additional 80,757 shares during the quarter. Geode Capital Management LLC owned about 2.25% of Dorian LPG worth $33,195,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Dorian LPG by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 471,768 shares of the shipping company’s stock valued at $16,238,000 after acquiring an additional 34,344 shares during the last quarter. Cynosure Group LLC lifted its position in Dorian LPG by 248.0% during the third quarter. Cynosure Group LLC now owns 31,655 shares of the shipping company’s stock valued at $1,090,000 after purchasing an additional 22,560 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Dorian LPG by 52.2% in the 3rd quarter. Empowered Funds LLC now owns 290,445 shares of the shipping company’s stock worth $9,997,000 after buying an additional 99,650 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Dorian LPG in the 3rd quarter worth about $2,238,000. Finally, Pacer Advisors Inc. raised its position in shares of Dorian LPG by 11.5% during the 3rd quarter. Pacer Advisors Inc. now owns 3,416,004 shares of the shipping company’s stock valued at $117,579,000 after buying an additional 352,453 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Dorian LPG Stock Up 1.1 %

Shares of LPG opened at $24.35 on Thursday. The company has a quick ratio of 4.20, a current ratio of 4.22 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average of $26.61 and a 200 day moving average of $34.23. The company has a market cap of $1.04 billion, a PE ratio of 4.13 and a beta of 0.93. Dorian LPG Ltd. has a 52-week low of $22.46 and a 52-week high of $51.66.

Dorian LPG (NYSE:LPG) last released its 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 firm had revenue of $82.40 million during the quarter, compared to the consensus estimate of $82.40 million. Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. Dorian LPG’s revenue was down 43.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 EPS. On average, sell-side analysts expect that Dorian LPG Ltd. will post 3.45 EPS for the current year.

Dorian LPG Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, November 25th. Stockholders of record on Tuesday, November 5th were paid a dividend of $1.00 per share. 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 issued a $42.00 price target on shares of Dorian LPG in a research report on Thursday, October 31st.

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.