Okeanis Eco Tankers (NYSE:ECO) Stock Price Up 2.9% – Still a Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO) traded up 2.9% on Wednesday. The company traded as high as $90.10 and last traded at $89.4050. 89,606 shares were traded during mid-day trading, a decline of 83% from the average session volume of 526,576 shares. The stock had previously closed at $86.85.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ECO. B. Riley Financial boosted their price target on shares of Okeanis Eco Tankers from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday. Wall Street Zen raised Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, 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. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.85.

Okeanis Eco Tankers Trading Up 4.0%

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 firm has a market capitalization of $3.52 billion, a PE ratio of 8.42 and a beta of -0.19. The stock’s fifty day simple moving average is $70.93 and its 200 day simple moving average is $58.95.

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

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 23.3%. This is a positive change 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 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 stock in a transaction on 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 transaction, the director owned 1,347,038 shares in the company, valued at $80,808,809.62. This trade represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Okeanis Eco Tankers

Large 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 fourth quarter worth about $27,416,000. Fearnley Asset Management AS acquired a new stake in Okeanis Eco Tankers during the fourth quarter worth about $18,696,000. Bank of America Corp DE increased its stake in shares of Okeanis Eco Tankers by 96.7% in 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 in the last quarter. Walleye Capital LLC increased its stake in shares of Okeanis Eco Tankers by 71.9% during the first quarter. Walleye Capital LLC now owns 177,417 shares of the company’s stock worth $8,976,000 after purchasing an additional 74,231 shares in the last quarter. Finally, Militia Capital Management LLC purchased a new position in shares of Okeanis Eco Tankers in the first quarter worth about $3,541,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates a fleet of modern, fuel-efficient crude oil tankers. The company focuses primarily on large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, which transport crude oil between major production and refining regions around the world.

Through its vessels and associated commercial and technical management activities, Okeanis Eco Tankers provides seaborne transportation services to customers in the global energy industry.