Okeanis Eco Tankers (NYSE:ECO) Sets New 1-Year High – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $102.56 and last traded at $100.4720, with a volume of 205,433 shares trading hands. The stock had previously closed at $99.04.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. B. Riley Financial raised their price objective on shares of Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Weiss Ratings raised shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, September 9th. Finally, Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $67.85.

Okeanis Eco Tankers Stock Performance

The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average price of $80.94 and a 200 day moving average price of $58.23. The stock has a market cap of $3.96 billion, a PE ratio of 9.46 and a beta of -0.19.

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

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were paid a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 20.7%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, August 14th. Okeanis Eco Tankers’s payout ratio is currently 195.90%.

Insider Activity

In other 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 transaction of $4,104,515.80. Following the completion of the sale, the director directly owned 1,347,038 shares in the company, valued at approximately $80,808,809.62. This represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ECO. Bank of America Corp DE raised its position in Okeanis Eco Tankers by 96.7% during the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after purchasing an additional 136,782 shares during the last quarter. Walleye Capital LLC grew its position in shares of Okeanis Eco Tankers by 71.9% in the 1st quarter. Walleye Capital LLC now owns 177,417 shares of the company’s stock worth $8,976,000 after buying an additional 74,231 shares during the last quarter. Militia Capital Management LLC bought a new stake in shares of Okeanis Eco Tankers in the 1st quarter worth approximately $3,541,000. Energy Income Partners LLC increased its stake in shares of Okeanis Eco Tankers by 3.4% during the first quarter. Energy Income Partners LLC now owns 69,118 shares of the company’s stock valued at $3,497,000 after buying an additional 2,250 shares during the period. Finally, Inspire Investing LLC bought a new position in shares of Okeanis Eco Tankers during the third quarter valued at approximately $2,339,000.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates oceangoing tankers. The company focuses primarily on the transportation of crude oil and refined petroleum products for energy companies, commodity traders and other customers in the global oil industry.

Its fleet consists mainly of large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, as well as product tankers designed to transport refined petroleum products. Okeanis Eco Tankers emphasizes fuel efficiency and environmental performance through the use of modern vessels and technologies intended to reduce emissions and operating consumption.

Okeanis Eco Tankers was established in 2018 and is headquartered in Athens, Greece.