Financial Lp Qvt Sells 8,539 Shares of Okeanis Eco Tankers (NYSE:ECO) Stock

Okeanis Eco Tankers Corp. (NYSE:ECO) Director Financial Lp Qvt sold 8,539 shares of Okeanis Eco Tankers stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $65.04, for a total value of $555,376.56. Following the transaction, the director directly owned 1,415,458 shares in the company, valued at approximately $92,061,388.32. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, August 14th, Financial Lp Qvt sold 68,420 shares of Okeanis Eco Tankers stock. The stock was sold at an average price of $59.99, for a total transaction of $4,104,515.80.

Okeanis Eco Tankers Price Performance

NYSE ECO traded up $2.42 on Monday, reaching $62.71. The company’s stock 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 cap of $2.45 billion, a PE ratio of 5.85 and a beta of -0.15. The firm’s 50 day moving average is $55.47 and its two-hundred day moving average is $51.42.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $5.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $1.30. The company had revenue of $268.14 million for the quarter, compared to analysts’ expectations of $220.28 million. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%. As a group, sell-side analysts predict 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 will be paid on Friday, August 21st. Investors of record on Friday, August 14th will be issued a dividend of $5.25 per share. The ex-dividend date is Friday, August 14th. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. This represents a $21.00 dividend on an annualized basis and a yield of 33.5%. Okeanis Eco Tankers’s payout ratio is 195.90%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Militia Capital Management LLC acquired a new stake in shares of Okeanis Eco Tankers during the first quarter valued at approximately $3,541,000. Bank of America Corp DE lifted its position in shares of Okeanis Eco Tankers by 96.7% in the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after acquiring an additional 136,782 shares in the last quarter. Royal Bank of Canada boosted its stake in 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 worth $121,000 after purchasing an additional 2,381 shares during the period. Energy Income Partners LLC boosted its stake in Okeanis Eco Tankers by 3.4% in the 1st quarter. Energy Income Partners LLC now owns 69,118 shares of the company’s stock worth $3,497,000 after purchasing an additional 2,250 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Okeanis Eco Tankers during the 1st quarter worth approximately $778,000.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ECO shares. Wall Street Zen raised Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Pareto Securities cut Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price on the stock. in a report on Monday, May 25th. Weiss Ratings raised Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Finally, B. Riley Financial upped their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Okeanis Eco Tankers has a consensus rating of “Moderate Buy” and an average target price of $59.52.

About Okeanis Eco Tankers

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.