Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 10,163 Shares of Dorian LPG Ltd. (NYSE:LPG)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Dorian LPG Ltd. (NYSE:LPG) by 43.0% in the fourth quarter, Holdings Channel reports. The firm owned 33,791 shares of the shipping company’s stock after acquiring an additional 10,163 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Dorian LPG were worth $823,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. grew its stake in Dorian LPG by 11.5% in the third quarter. Pacer Advisors Inc. now owns 3,416,004 shares of the shipping company’s stock valued at $117,579,000 after purchasing an additional 352,453 shares in the last quarter. State Street Corp grew its stake in Dorian LPG by 3.6% in the third quarter. State Street Corp now owns 1,357,420 shares of the shipping company’s stock valued at $46,722,000 after purchasing an additional 47,780 shares in the last quarter. Geode Capital Management LLC grew its stake in Dorian LPG by 9.1% in the third quarter. Geode Capital Management LLC now owns 964,222 shares of the shipping company’s stock valued at $33,195,000 after purchasing an additional 80,757 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Dorian LPG by 7.9% in 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 in the last quarter. Finally, Empowered Funds LLC grew its stake in Dorian LPG by 52.2% in the third 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 in the last quarter. 62.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a “buy” rating and issued a $42.00 price target on shares of Dorian LPG in a research note on Thursday, October 31st.

Dorian LPG Stock Performance

LPG opened at $24.14 on Wednesday. Dorian LPG Ltd. has a 12-month low of $22.46 and a 12-month high of $51.66. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 4.09 and a beta of 0.93. The business has a 50 day moving average of $24.47 and a 200-day moving average of $31.27. The company has a quick ratio of 4.20, a current ratio of 4.22 and a debt-to-equity ratio of 0.48.

Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Thursday, October 31st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). Dorian LPG had a net margin of 47.87% and a return on equity of 23.75%. The business had revenue of $82.40 million during the quarter, compared to analyst estimates of $82.40 million. During the same period in the previous year, the business earned $1.85 earnings per share. The business’s quarterly revenue was down 43.1% on a year-over-year basis. On average, equities research analysts expect that Dorian LPG Ltd. will post 2.84 earnings per share for the current year.

Dorian LPG Cuts Dividend

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

Dorian LPG 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.