Financial Lp Qvt Sells 68,420 Shares of Okeanis Eco Tankers (NYSE:ECO) Stock

Okeanis Eco Tankers Corp. (NYSE:ECO) Director Financial Lp Qvt sold 68,420 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $59.99, for a total transaction of $4,104,515.80. Following the completion of the sale, the director owned 1,347,038 shares of the company’s stock, valued at approximately $80,808,809.62. The trade was a 4.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Financial Lp Qvt also recently made the following trade(s):

• On Thursday, August 13th, Financial Lp Qvt sold 8,539 shares of Okeanis Eco Tankers stock. The shares were sold at an average price of $65.04, for a total transaction of $555,376.56.

Okeanis Eco Tankers Stock Up 4.0%

Shares of NYSE ECO traded up $2.42 during mid-day trading on Monday, reaching $62.71. The company had a trading volume of 664,204 shares, compared to its average volume of 493,180. Okeanis Eco Tankers Corp. has a twelve month low of $25.47 and a twelve month high of $65.87. 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 stock has a market capitalization of $2.45 billion, a PE ratio of 5.85 and a beta of -0.15. The stock’s 50 day moving average is $55.47 and its 200-day moving average is $51.42.

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

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 14th will be paid a dividend of $5.25 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, August 14th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 33.5%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 195.90%.

Institutional Trading of Okeanis Eco Tankers

Several large investors have recently made changes to their positions in ECO. Fifth Third Bancorp bought a new position in shares of Okeanis Eco Tankers in the 1st quarter valued at approximately $29,000. Quarry LP bought a new stake in Okeanis Eco Tankers during the third quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd grew its holdings in Okeanis Eco Tankers by 102.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after purchasing an additional 532 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Okeanis Eco Tankers in the second quarter valued at approximately $25,000. Finally, Royal Bank of Canada lifted its stake in shares of Okeanis Eco Tankers by 29,762.5% in the first quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock worth $121,000 after buying an additional 2,381 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently commented on ECO. Pareto Securities cut Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target for the company. in a research note on Monday, May 25th. Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings upgraded shares of Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, B. Riley Financial increased their price target on shares of 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 analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Okeanis Eco Tankers presently has an average rating of “Moderate Buy” and an average target price 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.