Okeanis Eco Tankers (NYSE:ECO) Stock Price Up 5% – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO) shot up 5% during trading on Friday. The company traded as high as $93.39 and last traded at $94.5630. Approximately 74,185 shares were traded during trading, a decline of 87% from the average session volume of 550,990 shares. The stock had previously closed at $90.05.

Analyst Ratings Changes

ECO has been the topic of several research reports. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. B. Riley Financial boosted their price objective on shares of Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Weiss Ratings raised shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, September 9th. Finally, Zacks Research lowered 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 data from MarketBeat.com, Okeanis Eco Tankers currently has a consensus rating of “Hold” and a consensus price target of $67.85.

Okeanis Eco Tankers Stock Up 4.8%

The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76. The company has a 50-day simple moving average of $78.40 and a two-hundred day simple moving average of $62.56. The stock has a market cap of $3.68 billion, a P/E ratio of 8.81 and a beta of -0.19.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Wednesday, August 5th. The company reported $5.91 earnings per share 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 analyst estimates of $220.28 million. On average, equities analysts forecast that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 22.3%. The ex-dividend date of this dividend was Friday, August 14th. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. Okeanis Eco Tankers’s dividend payout ratio is currently 195.90%.

Insiders Place Their Bets

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

Institutional Trading of Okeanis Eco Tankers

A number of institutional investors have recently modified their holdings of the company. Inspire Investing LLC purchased a new position in Okeanis Eco Tankers during the 3rd quarter valued at about $2,339,000. U S Global Investors Inc. bought a new position in Okeanis Eco Tankers during the 3rd quarter valued at approximately $1,000,000. SBI Securities Co. Ltd. raised its position in Okeanis Eco Tankers by 48,800.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 978 shares of the company’s stock valued at $79,000 after purchasing an additional 976 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in Okeanis Eco Tankers in the 2nd quarter worth approximately $149,000. Finally, Allianz Asset Management GmbH purchased a new stake in Okeanis Eco Tankers in the 2nd quarter worth approximately $1,506,000.

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.