Cvfg LLC Buys New Position in Okeanis Eco Tankers Corp. $ECO

Cvfg LLC bought a new stake in shares of Okeanis Eco Tankers Corp. (NYSE:ECO) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 31,665 shares of the company’s stock, valued at approximately $1,602,000.

A number of other institutional investors have also recently made changes to their positions in ECO. Caitong International Asset Management Co. Ltd raised its position 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 buying an additional 532 shares in the last quarter. Quarry LP bought a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth $29,000. BNP Paribas Financial Markets purchased a new position in Okeanis Eco Tankers in the second quarter worth $25,000. Verition Fund Management LLC grew its position in Okeanis Eco Tankers by 22.1% in the fourth quarter. Verition Fund Management LLC now owns 8,784 shares of the company’s stock worth $297,000 after acquiring an additional 1,591 shares in the last quarter. Finally, State of Wyoming bought a new position in Okeanis Eco Tankers in the second quarter valued at $107,000.

Okeanis Eco Tankers Price Performance

Shares of NYSE:ECO opened at $53.67 on Wednesday. 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 stock has a market cap of $2.10 billion, a PE ratio of 9.48 and a beta of -0.07. The company’s fifty day moving average is $52.62 and its 200 day moving average is $47.02. Okeanis Eco Tankers Corp. has a 52 week low of $22.38 and a 52 week high of $58.45.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.59. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. The business had revenue of $170.16 million during the quarter, compared to analyst estimates of $134.02 million. Research analysts anticipate that Okeanis Eco Tankers Corp. will post 9.53 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 28th were issued a dividend of $2.00 per share. The ex-dividend date was Thursday, May 28th. This represents a $8.00 annualized dividend and a yield of 14.9%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 141.34%.

Analyst Ratings Changes

A number of research firms have weighed in on ECO. Wall Street Zen downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Clarkson Capital cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Thursday, June 18th. Finally, B. Riley Financial upped their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Okeanis Eco Tankers has a consensus rating of “Moderate Buy” and an average price target of $51.89.

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.