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Wednesday, June 16, 2021

Why the Dorian LPG stock are on a gain?

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The Dorian LPG (LPG) stock is on a rise while no clear reason or news has been available. Dorian LPG is an international liquefied petroleum gas shipping company which deals with owning and operating gas carriers or VLGCs.

Recent Past Developments

Although the company has not released any news that could be considered as the reason for the rise in stock but recently Benzinga reported that according to Pareto, Dorian LPG prior rating was changed from sell to hold. 

Recently, On Capital Link’s 15th Annual International Forum happened on March 2 and 3 some of the major LPG, LNG, crude and product shipping companies presented. Dorian LPG was also expected to attend the conference.

The company launched its Q3 results, a while ago according to which EPS earning per share rose by 11.11% over the past year to $0.70 which has crossed the estimate of $0.57. Also the revenue increased by 3.56% year over year.

Another key announcement that the company made in its Q3 results was that the company will commence an offer to purchase up to 7.4 million or about 14.8% of our common shares at the price of $13.50 per share.

Since there is no definite reason, we can only assume that these past events might be the reason of rise in LPG stock.

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