Dorian LPG (NYSE:LPG) Sets New 52-Week Low - Here's What Happened

Dorian LPG Ltd. (NYSE:LPG - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $22.33 and last traded at $22.32, with a volume of 152835 shares changing hands. The stock had previously closed at $22.76.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a "buy" rating and issued a $35.00 price objective on shares of Dorian LPG in a report on Friday, January 31st.

Dorian LPG Price Performance

The stock has a 50 day moving average of $24.27 and a two-hundred day moving average of $29.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.20 and a current ratio of 3.97. The stock has a market cap of $968.18 million, a PE ratio of 5.75 and a beta of 0.91.

Dorian LPG (NYSE:LPG - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The shipping company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.08. Dorian LPG had a net margin of 38.51% and a return on equity of 15.14%. During the same quarter in the previous year, the business posted $2.62 EPS. Equities analysts anticipate that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, February 27th. Investors of record on Wednesday, February 5th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, February 5th.

Institutional Investors Weigh In On Dorian LPG

Institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in Dorian LPG by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 471,768 shares of the shipping company's stock valued at $16,238,000 after purchasing an additional 34,344 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Dorian LPG by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 197,574 shares of the shipping company's stock valued at $6,800,000 after acquiring an additional 25,343 shares during the last quarter. Cynosure Group LLC increased its stake in shares of Dorian LPG by 248.0% during the 3rd quarter. Cynosure Group LLC now owns 31,655 shares of the shipping company's stock worth $1,090,000 after purchasing an additional 22,560 shares during the last quarter. Empowered Funds LLC lifted 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 valued at $9,997,000 after purchasing an additional 99,650 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Dorian LPG by 11.5% during the third quarter. Pacer Advisors Inc. now owns 3,416,004 shares of the shipping company's stock worth $117,579,000 after buying an additional 352,453 shares during the last quarter. Institutional investors and hedge funds 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.