BTG Pactual Asset Management US LLC Invests $1.61 Million in Okeanis Eco Tankers Corp. $ECO

BTG Pactual Asset Management US LLC acquired a new stake in Okeanis Eco Tankers Corp. (NYSE:ECO) in the second quarter, HoldingsChannel.com reports. The firm acquired 32,280 shares of the company’s stock, valued at approximately $1,608,000.

Several other large investors have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new stake in Okeanis Eco Tankers in the 2nd quarter worth about $25,000. Fifth Third Bancorp purchased a new stake in Okeanis Eco Tankers in the 1st quarter valued at about $29,000. Quarry LP acquired a new position in shares of Okeanis Eco Tankers during the 3rd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Okeanis Eco Tankers by 102.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after acquiring an additional 532 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth about $107,000.

Okeanis Eco Tankers Trading Up 0.0%

NYSE ECO opened at $66.89 on Monday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 6.24 and a beta of -0.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.13 and a current ratio of 4.43. Okeanis Eco Tankers Corp. has a one year low of $26.43 and a one year high of $67.81. The company’s 50 day moving average price is $58.14 and its 200 day moving average price is $53.13.

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, topping the consensus estimate of $4.61 by $1.30. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%. The company had revenue of $268.14 million during the quarter, compared to the consensus estimate of $220.28 million. On average, sell-side analysts predict that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were issued a $5.25 dividend. The ex-dividend date was Friday, August 14th. This represents a $21.00 annualized dividend and a yield of 31.4%. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. Okeanis Eco Tankers’s payout ratio is currently 195.90%.

Insider Transactions at Okeanis Eco Tankers

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $59.99, for a total value of $4,104,515.80. Following the transaction, the director directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ECO shares. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Pareto Securities cut shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective for the company. in a research note on Monday, May 25th. B. Riley Financial upped their price objective on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings lowered Okeanis Eco Tankers from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 25th. Finally, Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Okeanis Eco Tankers presently has an average rating of “Moderate Buy” and an average target price of $59.52.

Okeanis Eco Tankers 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.