Insider Selling: Okeanis Eco Tankers (NYSE:ECO) Director Sells $555,376.56 in Stock

Okeanis Eco Tankers Corp. (NYSE:ECO) Director Financial Lp Qvt sold 8,539 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $65.04, for a total value of $555,376.56. Following the completion of the sale, the director owned 1,415,458 shares in the company, valued at $92,061,388.32. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, August 14th, Financial Lp Qvt sold 68,420 shares of Okeanis Eco Tankers stock. The shares were sold at an average price of $59.99, for a total transaction of $4,104,515.80.

Okeanis Eco Tankers Stock Performance

Shares of Okeanis Eco Tankers stock traded up $2.42 during trading on Monday, hitting $62.71. 664,204 shares of the stock were exchanged, compared to its average volume of 493,180. The stock’s fifty day moving average is $55.47 and its 200 day moving average is $51.42. The stock has a market cap of $2.45 billion, a PE ratio of 5.85 and a beta of -0.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.13 and a current ratio of 4.43. Okeanis Eco Tankers Corp. has a 12 month low of $25.47 and a 12 month high of $65.87.

Okeanis Eco Tankers (NYSE:ECO) last released 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. The business had revenue of $268.14 million for the quarter, compared to analysts’ expectations of $220.28 million. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%. As a group, sell-side analysts anticipate that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 14th will be paid a $5.25 dividend. The ex-dividend date is Friday, August 14th. 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 33.5%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 195.90%.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Militia Capital Management LLC bought a new stake in Okeanis Eco Tankers during the first quarter worth approximately $3,541,000. Cetera Investment Advisers bought a new position in Okeanis Eco Tankers during the 1st quarter valued at $2,185,000. Navellier & Associates Inc. bought a new position in Okeanis Eco Tankers during the 4th quarter valued at $631,000. Walleye Capital LLC increased its position in shares of Okeanis Eco Tankers by 71.9% during the 1st quarter. Walleye Capital LLC now owns 177,417 shares of the company’s stock valued at $8,976,000 after purchasing an additional 74,231 shares during the period. Finally, Encompass Capital Advisors LLC acquired a new position in shares of Okeanis Eco Tankers during the 4th quarter valued at $27,416,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ECO. Wall Street Zen raised Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Pareto Securities downgraded Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price on the stock. in a research note on Monday, May 25th. B. Riley Financial boosted their price target on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Clarkson Capital cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.52.

About Okeanis Eco Tankers

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.