Financial Lp Qvt Sells 68,420 Shares of Okeanis Eco Tankers (NYSE:ECO) Stock

Okeanis Eco Tankers Corp. (NYSE:ECO) Director Financial Lp Qvt sold 68,420 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $59.99, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Financial Lp Qvt also recently made the following trade(s):

• On Thursday, August 13th, Financial Lp Qvt sold 8,539 shares of Okeanis Eco Tankers stock. The stock was sold at an average price of $65.04, for a total value of $555,376.56.

Okeanis Eco Tankers Trading Down 1.1%

Okeanis Eco Tankers stock opened at $61.99 on Wednesday. Okeanis Eco Tankers Corp. has a 52-week low of $25.47 and a 52-week high of $65.87. The company has a market cap of $2.42 billion, a P/E ratio of 5.78 and a beta of -0.15. 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 business has a 50-day simple moving average of $56.02 and a two-hundred day simple moving average of $51.74.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $5.91 earnings per share 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 firm had revenue of $268.14 million for the quarter, compared to analysts’ expectations of $220.28 million. Analysts predict that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 14th will be given a dividend of $5.25 per share. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. This represents a $21.00 annualized dividend and a dividend yield of 33.9%. The ex-dividend date is Friday, August 14th. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 195.90%.

Analysts Set New Price Targets

A number of research firms recently commented on ECO. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Clarkson Capital cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. B. Riley Financial boosted their target price on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Pareto Securities downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target for the company. in a report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.52.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of institutional investors and hedge funds have recently modified their holdings of ECO. BNP Paribas Financial Markets purchased a new stake in Okeanis Eco Tankers in the 2nd quarter valued at about $25,000. Fifth Third Bancorp bought a new position in Okeanis Eco Tankers in the first quarter worth approximately $29,000. Quarry LP purchased a new position in Okeanis Eco Tankers during the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd raised its position in 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 purchasing an additional 532 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Okeanis Eco Tankers during the second quarter valued at $107,000.

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.