GeoSphere Capital Management LLC Buys Shares of 72,500 Okeanis Eco Tankers Corp. $ECO

GeoSphere Capital Management LLC bought a new stake in Okeanis Eco Tankers Corp. (NYSE:ECO) during the 4th quarter, HoldingsChannel reports. The fund bought 72,500 shares of the company’s stock, valued at approximately $2,453,000. Okeanis Eco Tankers makes up 0.8% of GeoSphere Capital Management LLC’s holdings, making the stock its 25th biggest position.

Other hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in Okeanis Eco Tankers in the 2nd quarter valued at about $25,000. Quarry LP bought a new position in Okeanis Eco Tankers in the 3rd quarter valued at about $29,000. State of Wyoming bought a new position in Okeanis Eco Tankers in the 2nd quarter valued at about $107,000. Verition Fund Management LLC bought a new position in Okeanis Eco Tankers in the 3rd quarter valued at about $211,000. Finally, Citadel Advisors LLC bought a new position in Okeanis Eco Tankers in the 3rd quarter valued at about $242,000.

Wall Street Analyst Weigh In

ECO has been the topic of several recent analyst reports. Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. B. Riley Financial lifted their price target on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wall Street Zen lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Weiss Ratings lowered shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.02.

Okeanis Eco Tankers Stock Down 0.1%

Shares of NYSE ECO opened at $54.00 on Monday. The company has a market capitalization of $2.11 billion, a P/E ratio of 9.54 and a beta of 0.09. Okeanis Eco Tankers Corp. has a 52-week low of $21.27 and a 52-week high of $58.45. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70. The company’s 50 day moving average price is $51.57 and its 200-day moving average price is $43.67.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.59. The firm had revenue of $170.17 million for the quarter, compared to the consensus estimate of $134.02 million. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. Equities analysts forecast that Okeanis Eco Tankers Corp. will post 9.53 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Thursday, May 28th will be given a $2.00 dividend. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. The ex-dividend date is Thursday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 14.8%. Okeanis Eco Tankers’s dividend payout ratio is presently 109.54%.

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.