Okeanis Eco Tankers (NYSE:ECO) Trading Up 4% – Should You Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price shot up 4% during mid-day trading on Tuesday . The company traded as high as $82.46 and last traded at $82.9250. 376,122 shares were traded during mid-day trading, a decline of 24% from the average session volume of 496,113 shares. The stock had previously closed at $79.72.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen raised Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings raised Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Pareto Securities downgraded Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective for the company. in a research report on Monday, May 25th. Finally, Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.52.

Okeanis Eco Tankers Stock Up 2.5%

The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.13 and a current ratio of 4.43. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 7.91 and a beta of -0.11. The firm’s 50-day simple moving average is $63.52 and its two-hundred day simple moving average is $55.61.

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

Okeanis Eco Tankers Increases Dividend

The business 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. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, August 14th. This represents a $21.00 annualized dividend and a yield of 24.8%. Okeanis Eco Tankers’s dividend payout ratio is presently 195.90%.

Insider Transactions at Okeanis Eco Tankers

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $59.99, for a total transaction of $4,104,515.80. Following the transaction, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Okeanis Eco Tankers

Hedge funds and other institutional investors have recently made changes to their positions in the company. Encompass Capital Advisors LLC bought a new position in shares of Okeanis Eco Tankers in the 4th quarter valued at about $27,416,000. Fearnley Asset Management AS bought a new stake in shares of Okeanis Eco Tankers during the fourth quarter worth approximately $18,696,000. Bank of America Corp DE lifted its holdings in Okeanis Eco Tankers by 96.7% in the first quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after buying an additional 136,782 shares during the period. Walleye Capital LLC boosted its stake in Okeanis Eco Tankers by 71.9% in the first quarter. Walleye Capital LLC now owns 177,417 shares of the company’s stock valued at $8,976,000 after acquiring an additional 74,231 shares during the last quarter. Finally, GeoSphere Capital Management LLC bought a new position in Okeanis Eco Tankers in the fourth quarter valued at approximately $2,453,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates a fleet of oceangoing tankers. The company primarily transports crude oil and refined petroleum products for energy companies, commodity traders and other commercial customers in international markets.

Its fleet is focused on large, modern and fuel-efficient vessels, including very large crude carriers (VLCCs), Suezmax crude oil tankers and large range 2 (LR2) product tankers. The company emphasizes environmentally efficient vessel designs and operational practices intended to reduce fuel consumption and emissions while serving global seaborne energy trade.

Okeanis Eco Tankers was established in 2018 and became publicly listed on the New York Stock Exchange in 2019 under the symbol ECO.