Insider Selling: Okeanis Eco Tankers (NYSE:ECO) Director Sells $555,376.56 in Stock

Okeanis Eco Tankers Corp. (NYSE:ECO) Director Financial Lp Qvt sold 8,539 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $65.04, for a total transaction of $555,376.56. Following the completion of the transaction, the director directly owned 1,415,458 shares of the company’s stock, valued at approximately $92,061,388.32. This represents a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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 shares were sold at an average price of $59.99, for a total transaction of $4,104,515.80.

Okeanis Eco Tankers Price Performance

Shares of ECO opened at $64.28 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.43 and a quick ratio of 4.13. The company’s fifty day moving average price is $56.32 and its 200-day moving average price is $51.91. Okeanis Eco Tankers Corp. has a 1-year low of $25.75 and a 1-year high of $65.87. The firm has a market capitalization of $2.51 billion, a PE ratio of 6.00 and a beta of -0.15.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results 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. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%.The company had revenue of $268.14 million during the quarter, compared to analyst estimates of $220.28 million. On average, equities research analysts predict that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 14th will be paid a $5.25 dividend. 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 annualized dividend and a dividend yield of 32.7%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 195.90%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. B. Riley Financial lifted their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings raised shares of Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, August 6th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.52.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds have recently modified their holdings of the stock. Encompass Capital Advisors LLC purchased a new position in Okeanis Eco Tankers during the fourth quarter valued at approximately $27,416,000. Fearnley Asset Management AS acquired a new position in Okeanis Eco Tankers in the fourth quarter valued at approximately $18,696,000. Marshall Wace LLP purchased a new stake in Okeanis Eco Tankers in the 4th quarter worth approximately $10,911,000. JPMorgan Chase & Co. purchased a new stake in Okeanis Eco Tankers in the 4th quarter worth approximately $5,222,000. Finally, Bank of America Corp DE grew its stake in shares of Okeanis Eco Tankers by 96.7% during the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock worth $14,079,000 after purchasing an additional 136,782 shares during the period.

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.