BW LPG (NYSE:BWLP) Trading Up 3.4% – Here’s What Happened

BW LPG Limited (NYSE:BWLP)’s stock price shot up 3.4% during trading on Thursday . The company traded as high as $11.01 and last traded at $11.06. 98,589 shares changed hands during trading, a decline of 72% from the average session volume of 353,392 shares. The stock had previously closed at $10.70.

Analyst Ratings Changes

Separately, Pareto Securities raised shares of BW LPG from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th.

BW LPG Stock Performance

The business has a fifty day moving average of $12.08 and a 200-day moving average of $12.92. The company has a market cap of $1.45 billion and a PE ratio of 4.13. The company has a current ratio of 1.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.15.

BW LPG (NYSE:BWLP) last announced its earnings results on Thursday, February 27th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $127.57 million for the quarter, compared to the consensus estimate of $183.00 million.

BW LPG Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a $0.42 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.68 annualized dividend and a dividend yield of 15.29%. BW LPG’s dividend payout ratio is 63.16%.

Hedge Funds Weigh In On BW LPG

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in BW LPG by 600.5% in the 4th quarter. Bank of New York Mellon Corp now owns 770,219 shares of the company’s stock worth $8,750,000 after purchasing an additional 660,269 shares in the last quarter. Amundi raised its holdings in BW LPG by 22.4% in the 4th quarter. Amundi now owns 2,208,258 shares of the company’s stock worth $25,152,000 after purchasing an additional 404,323 shares during the period. The Manufacturers Life Insurance Company bought a new stake in BW LPG during the 3rd quarter worth approximately $5,653,000. Boothbay Fund Management LLC purchased a new position in BW LPG during the fourth quarter valued at approximately $1,778,000. Finally, Citadel Advisors LLC bought a new position in shares of BW LPG in the fourth quarter worth approximately $1,231,000.

BW LPG Company Profile

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.