BW LPG (NYSE:BWLP) Shares Gap Up – Still a Buy?

BW LPG Limited (NYSE:BWLP) gapped up before the market opened on Friday . The stock had previously closed at $11.39, but opened at $11.95. BW LPG shares last traded at $11.99, with a volume of 213,117 shares traded.

BW LPG Price Performance

The business has a 50 day simple moving average of $11.93 and a 200-day simple moving average of $14.30. The company has a quick ratio of 1.16, a current ratio of 1.34 and a debt-to-equity ratio of 0.15.

BW LPG Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 12th were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $1.68 annualized dividend and a yield of 13.90%.

Institutional Investors Weigh In On BW LPG

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BWLP. Avior Wealth Management LLC purchased a new stake in BW LPG in the 3rd quarter valued at about $43,000. Centiva Capital LP acquired a new position in shares of BW LPG in the 3rd quarter worth approximately $183,000. Plato Investment Management Ltd purchased a new position in shares of BW LPG during the 3rd quarter worth approximately $207,000. HighTower Advisors LLC acquired a new stake in BW LPG in the 3rd quarter valued at approximately $219,000. Finally, Optimum Investment Advisors raised its position in BW LPG by 644.0% in the third 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 during the period.

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.