Okeanis Eco Tankers (NYSE:ECO) Stock Jumps 2.9% – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price rose 2.9% on Wednesday. The company traded as high as $90.10 and last traded at $89.4050. 89,606 shares were traded during trading, a decline of 83% from the average daily volume of 526,576 shares. The stock had previously closed at $86.85.

Wall Street Analysts Forecast Growth

ECO has been the topic of several recent analyst reports. B. Riley Financial increased their target price on Okeanis Eco Tankers from $75.00 to $100.00 and gave the company a “buy” rating in a report on Monday. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Zacks Research lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Weiss Ratings upgraded Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, September 9th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $67.85.

Okeanis Eco Tankers Trading Up 4.0%

The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 8.42 and a beta of -0.19. The business has a fifty day moving average of $70.93 and a two-hundred day moving average of $58.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.13 and a current ratio of 4.43.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $5.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $1.30. The firm had revenue of $268.14 million during the quarter, compared to analysts’ expectations of $220.28 million. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. As a group, equities analysts expect that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a $5.25 dividend. The ex-dividend date was Friday, August 14th. This represents a $21.00 annualized dividend and a dividend yield of 23.3%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. Okeanis Eco Tankers’s payout ratio is presently 195.90%.

Insider Buying and Selling

In related news, Director Financial Lp Qvt sold 68,420 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $59.99, for a total value of $4,104,515.80. Following the sale, the director directly owned 1,347,038 shares of the company’s stock, valued at approximately $80,808,809.62. This represents a 4.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several hedge funds have recently modified their holdings of the company. Encompass Capital Advisors LLC acquired a new stake in Okeanis Eco Tankers during the fourth quarter worth approximately $27,416,000. Fearnley Asset Management AS purchased a new stake in Okeanis Eco Tankers in the fourth quarter valued at approximately $18,696,000. Bank of America Corp DE increased its position in Okeanis Eco Tankers by 96.7% during the first quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock worth $14,079,000 after purchasing an additional 136,782 shares during the last quarter. Walleye Capital LLC raised its stake in Okeanis Eco Tankers by 71.9% during the first quarter. Walleye Capital LLC now owns 177,417 shares of the company’s stock worth $8,976,000 after purchasing an additional 74,231 shares during the period. Finally, Militia Capital Management LLC purchased a new position in Okeanis Eco Tankers during the first quarter worth approximately $3,541,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates a fleet of modern, fuel-efficient crude oil tankers. The company focuses primarily on large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, which transport crude oil between major production and refining regions around the world.

Through its vessels and associated commercial and technical management activities, Okeanis Eco Tankers provides seaborne transportation services to customers in the global energy industry.