Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Time to Sell?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) gapped down before the market opened on Thursday. The stock had previously closed at $95.66, but opened at $89.67. Okeanis Eco Tankers shares last traded at $92.5570, with a volume of 400,568 shares trading hands.

Analysts Set New Price Targets

ECO has been the topic of several research analyst reports. B. Riley Financial upped their price objective on Okeanis Eco Tankers from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 5th. Weiss Ratings upgraded shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, September 9th. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.85.

Okeanis Eco Tankers Stock Performance

The stock has a market cap of $3.52 billion, a PE ratio of 8.42 and a beta of -0.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.13 and a current ratio of 4.43. The company’s 50-day moving average price is $75.12 and its two-hundred day moving average price is $60.92.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $5.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.61 by $1.30. The firm had revenue of $268.14 million during the quarter, compared to analysts’ expectations of $220.28 million. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. On average, equities research analysts forecast that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $21.00 annualized dividend and a dividend yield of 23.3%. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. Okeanis Eco Tankers’s payout ratio is 195.90%.

Insider Buying and Selling at Okeanis Eco Tankers

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of Okeanis Eco Tankers stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $59.99, for a total value of $4,104,515.80. Following the transaction, the director directly owned 1,347,038 shares of the company’s stock, valued at $80,808,809.62. The trade was a 4.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Okeanis Eco Tankers

Large investors have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC bought a new position in shares of Okeanis Eco Tankers during the fourth quarter valued at about $27,416,000. Fearnley Asset Management AS purchased a new stake in Okeanis Eco Tankers in the fourth quarter worth $18,696,000. Bank of America Corp DE lifted its stake in Okeanis Eco Tankers by 96.7% in the first quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock worth $14,079,000 after acquiring an additional 136,782 shares during the period. Walleye Capital LLC raised its holdings in Okeanis Eco Tankers by 71.9% in the 1st 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 stake in shares of Okeanis Eco Tankers in the 1st 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.