Okeanis Eco Tankers (NYSE:ECO) Shares Gap Up – Should You Buy?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) gapped up before the market opened on Monday. The stock had previously closed at $93.11, but opened at $96.86. Okeanis Eco Tankers shares last traded at $97.8610, with a volume of 129,469 shares traded.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Weiss Ratings raised shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. 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 cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, B. Riley Financial increased their price objective on shares of Okeanis Eco Tankers from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $67.85.

Okeanis Eco Tankers Stock Up 0.9%

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 stock has a market cap of $3.88 billion, a PE ratio of 9.28 and a beta of -0.19. The firm has a fifty day moving average of $74.42 and a 200 day moving average of $60.59.

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

Okeanis Eco Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 21.1%. The ex-dividend date 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 (DPR) is currently 195.90%.

Insider Buying and Selling at Okeanis Eco Tankers

In other 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 sale, the director owned 1,347,038 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECO. NewEdge Advisors LLC purchased a new position in Okeanis Eco Tankers in the second quarter valued at approximately $149,000. Allianz Asset Management GmbH purchased a new stake in shares of Okeanis Eco Tankers during the 2nd quarter worth approximately $1,506,000. Triumph Capital Management boosted its holdings in shares of Okeanis Eco Tankers by 1.6% in the 2nd quarter. Triumph Capital Management now owns 20,112 shares of the company’s stock valued at $1,008,000 after buying an additional 312 shares in the last quarter. BTG Pactual Asset Management US LLC purchased a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at $1,608,000. Finally, Navellier & Associates Inc. grew its position in shares of Okeanis Eco Tankers by 25.1% in the 2nd quarter. Navellier & Associates Inc. now owns 24,815 shares of the company’s stock valued at $1,244,000 after buying an additional 4,976 shares during the last quarter.

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.