UBS Group AG Boosts Stock Holdings in Okeanis Eco Tankers Corp. $ECO

UBS Group AG grew its position in shares of Okeanis Eco Tankers Corp. (NYSE:ECO) by 1,616.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,065 shares of the company’s stock after acquiring an additional 59,391 shares during the quarter. UBS Group AG’s holdings in Okeanis Eco Tankers were worth $2,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new position in Okeanis Eco Tankers during the 3rd quarter worth $29,000. BNP Paribas Financial Markets purchased a new position in Okeanis Eco Tankers during the 2nd quarter worth $25,000. State of Wyoming boosted its holdings in Okeanis Eco Tankers by 58.6% during the 3rd quarter. State of Wyoming now owns 7,825 shares of the company’s stock worth $229,000 after acquiring an additional 2,890 shares during the last quarter. Lighthouse Investment Partners LLC boosted its holdings in Okeanis Eco Tankers by 11.0% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 51,965 shares of the company’s stock worth $1,521,000 after acquiring an additional 5,149 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in Okeanis Eco Tankers during the 3rd quarter worth $211,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ECO. Pareto Securities downgraded 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. Clarkson Capital lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Wall Street Zen lowered Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, B. Riley Financial raised their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Okeanis Eco Tankers presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.89.

Okeanis Eco Tankers Stock Down 4.7%

Shares of NYSE ECO opened at $51.02 on Thursday. Okeanis Eco Tankers Corp. has a 52 week low of $21.27 and a 52 week high of $58.45. The business has a 50-day simple moving average of $52.07 and a two-hundred day simple moving average of $44.08. The company has a quick ratio of 1.56, a current ratio of 1.70 and a debt-to-equity ratio of 0.75. The company has a market cap of $1.99 billion, a P/E ratio of 9.01 and a beta of 0.09.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The business had revenue of $170.17 million during the quarter, compared to the consensus estimate of $134.02 million. Research analysts anticipate that Okeanis Eco Tankers Corp. will post 9.53 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Thursday, May 28th will be paid a $2.00 dividend. The ex-dividend date is Thursday, May 28th. This represents a $8.00 annualized dividend and a yield of 15.7%. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s dividend payout ratio is 109.54%.

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.