BTG Pactual Asset Management US LLC Invests $1.61 Million in Okeanis Eco Tankers Corp. $ECO

BTG Pactual Asset Management US LLC acquired a new stake in Okeanis Eco Tankers Corp. (NYSE:ECO) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 32,280 shares of the company’s stock, valued at approximately $1,608,000. BTG Pactual Asset Management US LLC owned approximately 0.08% of Okeanis Eco Tankers as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers in the second quarter worth $25,000. Fifth Third Bancorp acquired a new stake in shares of Okeanis Eco Tankers in the first quarter valued at $29,000. Quarry LP purchased a new position in Okeanis Eco Tankers in the third quarter valued at $29,000. Caitong International Asset Management Co. Ltd grew its stake 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 worth $36,000 after purchasing an additional 532 shares in the last quarter. Finally, State of Wyoming purchased a new stake in Okeanis Eco Tankers during the 2nd quarter worth about $107,000.

Insider Activity at Okeanis Eco Tankers

In related news, Director Financial Lp Qvt sold 68,420 shares of Okeanis Eco Tankers 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings cut Okeanis Eco Tankers from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 25th. Clarkson Capital lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, B. Riley Financial boosted their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.52.

Okeanis Eco Tankers Stock Performance

Shares of ECO opened at $66.89 on Monday. Okeanis Eco Tankers Corp. has a 12-month low of $26.43 and a 12-month high of $67.81. The stock has a market cap of $2.61 billion, a P/E ratio of 6.24 and a beta of -0.15. The company has a current ratio of 4.43, a quick ratio of 4.13 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average of $58.14 and a two-hundred day moving average of $53.13.

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 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 business had revenue of $268.14 million during the quarter, compared to analysts’ expectations of $220.28 million. As a group, research analysts predict that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were paid a dividend of $5.25 per share. The ex-dividend date of this dividend was Friday, August 14th. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. This represents a $21.00 dividend on an annualized basis and a dividend yield of 31.4%. Okeanis Eco Tankers’s dividend payout ratio is 195.90%.

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.