BW LPG (NYSE:BWLP) Shares Gap Down – Here’s Why

Shares of BW LPG Limited (NYSE:BWLP) gapped down before the market opened on Tuesday . The stock had previously closed at $14.95, but opened at $14.39. BW LPG shares last traded at $14.44, with a volume of 57,689 shares.

BW LPG Stock Down 3.1 %

The company’s 50 day simple moving average is $15.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.45.

BW LPG (NYSE:BWLP) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.58 EPS for the quarter. The company had revenue of $876.49 million for the quarter.

BW LPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 16.02%. The ex-dividend date of this dividend was Tuesday, September 10th.

Institutional Trading of BW LPG

Several institutional investors and hedge funds have recently added to or reduced their stakes in BWLP. Acadian Asset Management LLC acquired a new stake in shares of BW LPG during the 2nd quarter worth approximately $56,598,000. DekaBank Deutsche Girozentrale bought a new position in BW LPG during the second quarter worth about $698,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of BW LPG during the 2nd quarter worth about $12,196,000. Bank of New York Mellon Corp bought a new stake in shares of BW LPG in the 2nd quarter valued at about $2,365,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of BW LPG in the 2nd quarter valued at approximately $2,050,000.

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.