BW LPG (NYSE:BWLP) Shares Gap Up – Still a Buy?

BW LPG Limited (NYSE:BWLP) shares gapped up before the market opened on Friday . The stock had previously closed at $11.39, but opened at $11.95. BW LPG shares last traded at $11.99, with a volume of 213,117 shares.

BW LPG Price Performance

The company’s 50-day simple moving average is $11.93 and its 200 day simple moving average is $14.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.34 and a quick ratio of 1.16.

BW LPG Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 12th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 13.90%. The ex-dividend date was Thursday, December 12th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BWLP. Assenagon Asset Management S.A. acquired a new position in BW LPG during the third quarter worth $11,827,000. Skandinaviska Enskilda Banken AB publ acquired a new position in BW LPG during the second quarter worth $12,196,000. The Manufacturers Life Insurance Company purchased a new stake in BW LPG during the third quarter worth $5,653,000. Bank of New York Mellon Corp acquired a new stake in BW LPG in the second quarter valued at $2,365,000. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of BW LPG in the second quarter valued at $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.