Okeanis Eco Tankers (NYSE:ECO) Shares Up 5% – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price was up 5% during trading on Friday. The company traded as high as $93.39 and last traded at $94.5630. Approximately 74,185 shares changed hands during trading, a decline of 87% from the average daily volume of 550,990 shares. The stock had previously closed at $90.05.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ECO. B. Riley Financial raised their price target on Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a “buy” rating in a research note 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. Zacks Research downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.85.

Okeanis Eco Tankers Stock Up 4.8%

The company has a debt-to-equity ratio of 0.76, a current ratio of 4.43 and a quick ratio of 4.13. The firm has a market cap of $3.68 billion, a P/E ratio of 8.81 and a beta of -0.19. The stock’s 50 day simple moving average is $78.40 and its two-hundred day simple moving average is $62.56.

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

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were paid a dividend of $5.25 per share. The ex-dividend date was Friday, August 14th. This represents a $21.00 annualized dividend and a yield of 22.3%. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 195.90%.

Insiders Place Their Bets

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the company’s 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 transaction, the director owned 1,347,038 shares in the company, valued at approximately $80,808,809.62. This represents a 4.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently modified their holdings of the company. Inspire Investing LLC purchased a new position in Okeanis Eco Tankers in the third quarter worth about $2,339,000. U S Global Investors Inc. purchased a new stake in shares of Okeanis Eco Tankers in the third quarter worth $1,000,000. SBI Securities Co. Ltd. lifted its position in shares of Okeanis Eco Tankers by 48,800.0% in the third quarter. SBI Securities Co. Ltd. now owns 978 shares of the company’s stock valued at $79,000 after acquiring an additional 976 shares in the last quarter. NewEdge Advisors LLC bought a new position in Okeanis Eco Tankers in the 2nd quarter worth approximately $149,000. Finally, Allianz Asset Management GmbH bought a new stake in Okeanis Eco Tankers in the 2nd quarter valued at $1,506,000.

Okeanis Eco Tankers Company Profile

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.