810,154 Shares in Okeanis Eco Tankers Corp. $ECO Bought by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC purchased a new stake in shares of Okeanis Eco Tankers Corp. (NYSE:ECO) during the fourth quarter, Holdings Channel.com reports. The fund purchased 810,154 shares of the company’s stock, valued at approximately $27,416,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in Okeanis Eco Tankers during the third quarter worth $29,000. BNP Paribas Financial Markets bought a new stake in Okeanis Eco Tankers in the second quarter worth about $25,000. Verition Fund Management LLC lifted its stake in Okeanis Eco Tankers by 22.1% in the fourth quarter. Verition Fund Management LLC now owns 8,784 shares of the company’s stock valued at $297,000 after purchasing an additional 1,591 shares during the last quarter. State of Wyoming purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at $107,000. Finally, Lighthouse Investment Partners LLC boosted its position in Okeanis Eco Tankers by 11.0% during the third quarter. Lighthouse Investment Partners LLC now owns 51,965 shares of the company’s stock worth $1,521,000 after purchasing an additional 5,149 shares during the period.

Okeanis Eco Tankers Stock Down 1.8%

Shares of NYSE:ECO opened at $51.04 on Thursday. The firm has a fifty day moving average price of $52.08 and a two-hundred day moving average price of $45.40. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 9.02 and a beta of -0.05. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.70 and a quick ratio of 1.56. Okeanis Eco Tankers Corp. has a one year low of $21.27 and a one year high of $58.45.

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

Okeanis Eco Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 28th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 15.7%. The ex-dividend date of this dividend was Thursday, May 28th. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s payout ratio is 141.34%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ECO shares. Weiss Ratings cut shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 25th. Wall Street Zen lowered Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Clarkson Capital cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. B. Riley Financial raised their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.89.

About Okeanis Eco Tankers

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.