Okeanis Eco Tankers (NYSE:ECO) Shares Up 2.9% – Still a Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price traded up 2.9% during trading on Wednesday. The stock traded as high as $90.10 and last traded at $89.4050. Approximately 89,606 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 526,576 shares. The stock had previously closed at $86.85.

Analysts Set New Price Targets

ECO has been the subject of several analyst reports. B. Riley Financial raised their price target on Okeanis Eco Tankers from $75.00 to $100.00 and gave the company a “buy” rating in a report on Monday. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Finally, Zacks Research downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.85.

Okeanis Eco Tankers Trading Up 7.4%

The firm has a market cap of $3.69 billion, a P/E ratio of 8.82 and a beta of -0.19. The stock has a fifty day simple moving average of $72.21 and a 200 day simple moving average of $59.58. 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 (NYSE:ECO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $1.30. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%.The firm had revenue of $268.14 million for the quarter, compared to the consensus estimate of $220.28 million. On average, research analysts expect that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were paid a dividend of $5.25 per share. The ex-dividend date was Friday, August 14th. This represents a $21.00 annualized dividend and a yield of 22.2%. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 195.90%.

Insider Activity

In other news, Director Financial Lp Qvt sold 68,420 shares of the firm’s stock in a transaction dated 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 sale, the director owned 1,347,038 shares of the company’s stock, valued at $80,808,809.62. This trade represents a 4.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp purchased a new stake in Okeanis Eco Tankers in the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd raised 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 valued at $36,000 after buying an additional 532 shares during the last quarter. Royal Bank of Canada raised its stake 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 valued at $121,000 after buying an additional 2,381 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at $137,000. Finally, NewEdge Advisors LLC bought a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at $149,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates a fleet of modern, fuel-efficient crude oil tankers. The company focuses primarily on large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, which transport crude oil between major production and refining regions around the world.

Through its vessels and associated commercial and technical management activities, Okeanis Eco Tankers provides seaborne transportation services to customers in the global energy industry.