Okeanis Eco Tankers (NYSE:ECO) Sets New 1-Year High – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO) hit a new 52-week high on Friday. The company traded as high as $87.70 and last traded at $87.3680, with a volume of 777335 shares changing hands. The stock had previously closed at $85.74.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ECO. 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. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Okeanis Eco Tankers presently has an average rating of “Moderate Buy” and a consensus target price of $59.52.

Okeanis Eco Tankers Stock Performance

The firm’s 50-day moving average price is $69.14 and its two-hundred day moving average price is $58.08. 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 firm has a market capitalization of $3.41 billion, a PE ratio of 8.15 and a beta of -0.20.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $5.91 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $268.14 million during the quarter, compared to analyst estimates of $220.28 million. As a group, research analysts predict that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a dividend of $5.25 per share. The ex-dividend date of this dividend was 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 yield of 24.0%. Okeanis Eco Tankers’s payout ratio is presently 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 transaction of $4,104,515.80. Following the completion of the sale, the director directly owned 1,347,038 shares in the company, valued at approximately $80,808,809.62. This trade represents a 4.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECO. Encompass Capital Advisors LLC acquired a new position in shares of Okeanis Eco Tankers during the 4th quarter worth $27,416,000. Fearnley Asset Management AS bought a new stake in Okeanis Eco Tankers in the fourth quarter worth $18,696,000. Bank of America Corp DE boosted its holdings in Okeanis Eco Tankers by 96.7% in the first 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 in the last quarter. Walleye Capital LLC increased its position in Okeanis Eco Tankers by 71.9% during the first quarter. Walleye Capital LLC now owns 177,417 shares of the company’s stock worth $8,976,000 after buying an additional 74,231 shares during the last quarter. Finally, Militia Capital Management LLC acquired a new position in Okeanis Eco Tankers during the first quarter worth $3,541,000.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates a fleet of modern, fuel-efficient crude oil tankers. The company focuses primarily on large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, which transport crude oil between major production and refining regions around the world.

Through its vessels and associated commercial and technical management activities, Okeanis Eco Tankers provides seaborne transportation services to customers in the global energy industry.