Okeanis Eco Tankers (NYSE:ECO) Director Sells 68,420 Shares

Okeanis Eco Tankers Corp. (NYSE:ECO) Director Financial Lp Qvt sold 68,420 shares of the 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 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 Securities & Exchange Commission, which is available through this link.

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 shares were sold at an average price of $65.04, for a total value of $555,376.56.

Okeanis Eco Tankers Stock Performance

Shares of NYSE:ECO traded up $2.42 during trading on Monday, hitting $62.71. 664,204 shares of the company traded hands, compared to its average volume of 493,180. Okeanis Eco Tankers Corp. has a one year low of $25.47 and a one year high of $65.87. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 5.85 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’s fifty day moving average is $55.47 and its 200-day moving average is $51.42.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results 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. The firm had revenue of $268.14 million for the quarter, compared to analyst estimates of $220.28 million. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. As a group, equities analysts predict that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current fiscal 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 issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 33.5%. The ex-dividend date is Friday, August 14th. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. Okeanis Eco Tankers’s payout ratio is presently 195.90%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ECO shares. Pareto Securities cut Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target on the stock. in a report on Monday, May 25th. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Weiss Ratings raised Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Clarkson Capital downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, B. Riley Financial increased their price target 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 analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.52.

Institutional Trading of Okeanis Eco Tankers

Large investors have recently added to or reduced their stakes in the company. Militia Capital Management LLC acquired a new stake in shares of Okeanis Eco Tankers in the first quarter worth $3,541,000. Bank of America Corp DE boosted its position in Okeanis Eco Tankers by 96.7% during the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock worth $14,079,000 after acquiring an additional 136,782 shares during the period. Royal Bank of Canada boosted its position in Okeanis Eco Tankers by 29,762.5% during the 1st quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock worth $121,000 after acquiring an additional 2,381 shares during the period. Energy Income Partners LLC grew its stake in Okeanis Eco Tankers by 3.4% during the 1st quarter. Energy Income Partners LLC now owns 69,118 shares of the company’s stock valued at $3,497,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Okeanis Eco Tankers in the 1st quarter valued at about $778,000.

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.