Militia Capital Partners LP Purchases New Holdings in Okeanis Eco Tankers Corp. $ECO

Militia Capital Partners LP acquired a new stake in shares of Okeanis Eco Tankers Corp. (NYSE:ECO) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 35,000 shares of the company’s stock, valued at approximately $1,024,000. Militia Capital Partners LP owned approximately 0.11% of Okeanis Eco Tankers as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at approximately $25,000. State of Wyoming grew its position in shares of Okeanis Eco Tankers by 58.6% during the third quarter. State of Wyoming now owns 7,825 shares of the company’s stock worth $229,000 after buying an additional 2,890 shares in the last quarter. Lighthouse Investment Partners LLC increased its stake in shares of Okeanis Eco Tankers by 11.0% in the third quarter. Lighthouse Investment Partners LLC now owns 51,965 shares of the company’s stock worth $1,521,000 after buying an additional 5,149 shares during the last quarter. S.E.E.D. Planning Group LLC bought a new stake in shares of Okeanis Eco Tankers in the third quarter worth $234,000. Finally, Citadel Advisors LLC acquired a new stake in Okeanis Eco Tankers in the third quarter valued at $242,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ECO. B. Riley Financial raised their price objective on shares of Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Clarkson Capital upgraded shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price on the stock in a research note on Tuesday, January 27th. Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Finally, Weiss Ratings upgraded Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Okeanis Eco Tankers has a consensus rating of “Buy” and an average target price of $43.35.

Okeanis Eco Tankers Stock Performance

Okeanis Eco Tankers stock opened at $45.65 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.41 and a quick ratio of 3.16. Okeanis Eco Tankers Corp. has a 12 month low of $17.91 and a 12 month high of $57.29. The company has a fifty day moving average price of $43.30 and a two-hundred day moving average price of $36.41. The company has a market cap of $1.78 billion, a PE ratio of 12.20 and a beta of -0.30.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.48. Okeanis Eco Tankers had a net margin of 31.40% and a return on equity of 26.63%. The company had revenue of $91.33 million for the quarter, compared to analysts’ expectations of $98.45 million. Research analysts expect that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, March 3rd were issued a $1.55 dividend. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 dividend on an annualized basis and a yield of 13.6%. The ex-dividend date of this dividend was Tuesday, March 3rd. Okeanis Eco Tankers’s dividend payout ratio is 165.78%.

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.