U S Global Investors Inc. Acquires New Stake in Okeanis Eco Tankers Corp. $ECO

U S Global Investors Inc. bought a new stake in Okeanis Eco Tankers Corp. (NYSE:ECO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,363 shares of the company’s stock, valued at approximately $1,000,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp bought a new position in Okeanis Eco Tankers during the 1st quarter valued at $29,000. SBI Securities Co. Ltd. increased its position in shares of Okeanis Eco Tankers by 48,800.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 978 shares of the company’s stock worth $79,000 after purchasing an additional 976 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Okeanis Eco Tankers by 102.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after purchasing an additional 532 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Okeanis Eco Tankers by 29,762.5% in the 1st quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock valued at $121,000 after purchasing an additional 2,381 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at about $137,000.

Okeanis Eco Tankers Price Performance

ECO opened at $90.01 on Friday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 8.46 and a beta of -0.19. Okeanis Eco Tankers Corp. has a fifty-two week low of $31.75 and a fifty-two week high of $100.68. The company’s 50-day moving average price is $78.40 and its 200 day moving average price is $62.56. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Wednesday, August 5th. The company reported $5.91 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $1.30. The company had revenue of $268.14 million during 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, sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were issued a $5.25 dividend. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, August 14th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 23.3%. Okeanis Eco Tankers’s dividend payout ratio is 195.90%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ECO shares. Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings upgraded Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, September 9th. B. Riley Financial increased their target price on Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Finally, Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Okeanis Eco Tankers has a consensus rating of “Hold” and a consensus target price of $67.85.

Insiders Place Their Bets

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the business’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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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.