Okeanis Eco Tankers (NYSE:ECO) Stock Price Down 4.4% – What’s Next?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) traded down 4.4% during trading on Wednesday . The company traded as low as $62.55 and last traded at $62.1750. Approximately 126,585 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 489,490 shares. The stock had previously closed at $65.04.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ECO. Clarkson Capital downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Pareto Securities cut shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price for the company. in a research report on Monday, May 25th. 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 increased their price target on shares of 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, Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. One research 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. Based on data from MarketBeat.com, Okeanis Eco Tankers has an average rating of “Moderate Buy” and a consensus target price of $59.52.

Okeanis Eco Tankers Trading Up 6.8%

The firm has a 50-day moving average of $57.85 and a two-hundred day moving average of $52.94. The firm has a market capitalization of $2.60 billion, a P/E ratio of 6.20 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.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Wednesday, August 5th. The company reported $5.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.61 by $1.30. The business had revenue of $268.14 million during 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%. On average, analysts anticipate that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current 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 $5.25 dividend. 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 31.6%. The ex-dividend date of this dividend was Friday, August 14th. Okeanis Eco Tankers’s payout ratio is presently 195.90%.

Insiders Place Their Bets

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $59.99, for a total transaction of $4,104,515.80. Following the completion of the transaction, 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 can be accessed through this link.

Institutional Trading of Okeanis Eco Tankers

A number of institutional investors have recently bought and sold shares of the company. State of Wyoming raised its position in shares of Okeanis Eco Tankers by 2.6% in the 1st quarter. State of Wyoming now owns 8,123 shares of the company’s stock worth $411,000 after acquiring an additional 202 shares in the last quarter. Triumph Capital Management grew its stake in Okeanis Eco Tankers by 1.6% during the second quarter. Triumph Capital Management now owns 20,112 shares of the company’s stock worth $1,008,000 after purchasing an additional 312 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Okeanis Eco Tankers by 102.3% during the fourth 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 during the period. Fifth Third Bancorp bought a new stake in Okeanis Eco Tankers in the first quarter worth approximately $29,000. Finally, Quarry LP acquired a new position in Okeanis Eco Tankers in the third quarter valued at approximately $29,000.

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.