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 $13.33, but opened at $12.95. BW LPG shares last traded at $12.95, with a volume of 109,576 shares changing hands.

BW LPG Stock Performance

The firm has a 50 day moving average price of $14.08. The company has a quick ratio of 1.45, a current ratio of 1.63 and a debt-to-equity ratio of 0.15.

BW LPG (NYSE:BWLP) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.58 EPS for the quarter. The company had revenue of $876.49 million for the quarter.

BW LPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 10th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 17.86%. The ex-dividend date of this dividend was Tuesday, September 10th.

Hedge Funds Weigh In On BW LPG

A number of institutional investors have recently added to or reduced their stakes in BWLP. Avior Wealth Management LLC acquired a new stake in shares of BW LPG during the third quarter valued at about $43,000. Centiva Capital LP purchased a new position in BW LPG in the third quarter valued at about $183,000. Plato Investment Management Ltd acquired a new stake in BW LPG during the 3rd quarter valued at approximately $207,000. HighTower Advisors LLC purchased a new stake in BW LPG during the 3rd quarter worth approximately $219,000. Finally, Optimum Investment Advisors raised its position in shares of BW LPG by 644.0% in the 3rd quarter. Optimum Investment Advisors now owns 18,600 shares of the company’s stock valued at $268,000 after purchasing an additional 16,100 shares in the last quarter.

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.