Vestcor Inc Sells 7,172 Shares of Dorian LPG Ltd. (NYSE:LPG)

Vestcor Inc trimmed its position in Dorian LPG Ltd. (NYSE:LPG) by 2.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 256,083 shares of the shipping company’s stock after selling 7,172 shares during the period. Vestcor Inc’s holdings in Dorian LPG were worth $5,721,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of LPG. Raymond James Financial Inc. bought a new position in shares of Dorian LPG in the 4th quarter worth $698,000. Arizona State Retirement System boosted its position in shares of Dorian LPG by 4.8% in the 1st quarter. Arizona State Retirement System now owns 11,664 shares of the shipping company’s stock worth $261,000 after purchasing an additional 532 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Dorian LPG by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 213,052 shares of the shipping company’s stock worth $4,760,000 after purchasing an additional 5,025 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Dorian LPG by 57.8% in the 4th quarter. Deutsche Bank AG now owns 33,926 shares of the shipping company’s stock worth $827,000 after purchasing an additional 12,429 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Dorian LPG by 50.4% in the 1st quarter. GAMMA Investing LLC now owns 3,299 shares of the shipping company’s stock worth $74,000 after purchasing an additional 1,105 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LPG has been the topic of several recent research reports. Jefferies Financial Group raised their price target on Dorian LPG from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Wall Street Zen raised Dorian LPG from a “sell” rating to a “hold” rating in a research note on Sunday, June 1st.

Dorian LPG Stock Performance

Shares of Dorian LPG stock opened at $29.43 on Thursday. The company has a market capitalization of $1.26 billion, a PE ratio of 13.63 and a beta of 0.77. Dorian LPG Ltd. has a 12 month low of $16.66 and a 12 month high of $42.38. The company has a current ratio of 3.54, a quick ratio of 3.52 and a debt-to-equity ratio of 0.48. The stock’s fifty day simple moving average is $25.36 and its 200 day simple moving average is $23.29.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Thursday, May 22nd. The shipping company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.17 by $0.08. The business had revenue of $75.89 million for the quarter, compared to the consensus estimate of $79.04 million. Dorian LPG had a return on equity of 8.88% and a net margin of 25.52%. The firm’s revenue was down 46.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 EPS. On average, research analysts predict that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were paid a dividend of $0.50 per share. This represents a yield of 13.5%. The ex-dividend date of this dividend was Friday, May 16th.

Dorian LPG Company Profile

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.