Encompass Capital Advisors LLC Takes Position in Okeanis Eco Tankers Corp. $ECO

Encompass Capital Advisors LLC bought a new position in shares of Okeanis Eco Tankers Corp. (NYSE:ECO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 810,154 shares of the company’s stock, valued at approximately $27,416,000. Encompass Capital Advisors LLC owned about 2.52% of Okeanis Eco Tankers at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ECO. Quarry LP bought a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at $29,000. BNP Paribas Financial Markets acquired a new stake in Okeanis Eco Tankers in the second quarter valued at $25,000. Verition Fund Management LLC raised its position in Okeanis Eco Tankers by 22.1% during the 4th quarter. Verition Fund Management LLC now owns 8,784 shares of the company’s stock worth $297,000 after purchasing an additional 1,591 shares during the last quarter. State of Wyoming acquired a new position in Okeanis Eco Tankers during the 2nd quarter worth about $107,000. Finally, 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 valued at $1,521,000 after buying an additional 5,149 shares during the period.

Okeanis Eco Tankers Price Performance

Shares of NYSE:ECO opened at $51.04 on Thursday. Okeanis Eco Tankers Corp. has a twelve month low of $21.27 and a twelve month high of $58.45. The stock’s 50 day moving average is $52.08 and its 200-day moving average is $45.40. The company has a quick ratio of 1.56, a current ratio of 1.70 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 9.02 and a beta of -0.05.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. The business had revenue of $170.17 million during the quarter, compared to analyst estimates of $134.02 million. Sell-side analysts forecast that Okeanis Eco Tankers Corp. will post 9.53 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 28th were issued a $2.00 dividend. The ex-dividend date was Thursday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 15.7%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 141.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ECO. Weiss Ratings downgraded Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 25th. Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Wall Street Zen lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, B. Riley Financial raised their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.89.

Okeanis Eco Tankers Company 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.