Walleye Capital LLC Raises Stake in Okeanis Eco Tankers Corp. $ECO

Walleye Capital LLC increased its holdings in shares of Okeanis Eco Tankers Corp. (NYSE:ECO) by 71.9% in the first quarter, Holdings Channel reports. The firm owned 177,417 shares of the company’s stock after acquiring an additional 74,231 shares during the period. Walleye Capital LLC’s holdings in Okeanis Eco Tankers were worth $8,976,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in Okeanis Eco Tankers in the second quarter valued at approximately $25,000. Fifth Third Bancorp purchased a new stake in Okeanis Eco Tankers during the first quarter worth approximately $29,000. Quarry LP acquired a new stake in shares of Okeanis Eco Tankers in the third quarter worth $29,000. Caitong International Asset Management Co. Ltd increased its position in shares of Okeanis Eco Tankers by 102.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after acquiring an additional 532 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at $107,000.

Okeanis Eco Tankers Stock Down 1.1%

Shares of Okeanis Eco Tankers stock opened at $56.45 on Thursday. Okeanis Eco Tankers Corp. has a 1-year low of $23.34 and a 1-year high of $58.45. The company has a market capitalization of $2.20 billion, a PE ratio of 9.97 and a beta of -0.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.70 and a quick ratio of 1.56. The business has a 50-day moving average of $52.58 and a 200-day moving average of $48.71.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.74 by $0.59. The business had revenue of $170.16 million for the quarter, compared to analysts’ expectations of $134.02 million. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%. As a group, equities analysts forecast that Okeanis Eco Tankers Corp. will post 9.53 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 28th were paid a dividend of $2.00 per share. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. The ex-dividend date was Thursday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 14.2%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 141.34%.

Wall Street Analysts Forecast Growth

ECO has been the subject of a number of research reports. B. Riley Financial upped their price target on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Wall Street Zen cut Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Thursday, June 18th. Finally, Clarkson Capital downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.52.

Okeanis Eco Tankers Profile

Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.

As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.