Walleye Capital LLC Increases Stock Position in Okeanis Eco Tankers Corp. $ECO

Walleye Capital LLC grew its holdings in Okeanis Eco Tankers Corp. (NYSE:ECO) by 71.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,417 shares of the company’s stock after purchasing an additional 74,231 shares during the quarter. Walleye Capital LLC owned approximately 0.45% of Okeanis Eco Tankers worth $8,976,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Navellier & Associates Inc. purchased a new position in Okeanis Eco Tankers during the fourth quarter worth $631,000. Encompass Capital Advisors LLC purchased a new stake in shares of Okeanis Eco Tankers in the fourth quarter valued at $27,416,000. GeoSphere Capital Management LLC purchased a new stake in shares of Okeanis Eco Tankers in the fourth quarter valued at $2,453,000. Fearnley Asset Management AS acquired a new stake in shares of Okeanis Eco Tankers during the fourth quarter valued at $18,696,000. Finally, Cvfg LLC acquired a new stake in shares of Okeanis Eco Tankers during the first quarter valued at $1,602,000.

Okeanis Eco Tankers Stock Performance

Shares of ECO stock opened at $56.45 on Thursday. Okeanis Eco Tankers Corp. has a one year low of $23.34 and a one year high of $58.45. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70. The company has a 50 day moving average price of $52.58 and a 200 day moving average price of $48.71. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 9.97 and a beta of -0.07.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.59. The company had revenue of $170.16 million for the quarter, compared to the consensus estimate of $134.02 million. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. Sell-side analysts anticipate that Okeanis Eco Tankers Corp. will post 9.53 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 28th were given a $2.00 dividend. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 14.2%. Okeanis Eco Tankers’s dividend payout ratio is 141.34%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. B. Riley Financial boosted their target price on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Pareto Securities cut shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target on the stock. in a research note on Monday, May 25th. Wall Street Zen cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Thursday, June 18th. Finally, Clarkson Capital lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $59.52.

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.