Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) Director Financial Lp Qvt sold 8,539 shares of the 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible 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 Trading Up 4.0%
ECO opened at $62.71 on Tuesday. The firm has a 50 day simple moving average of $55.76 and a 200 day simple moving average of $51.58. Okeanis Eco Tankers Corp. has a fifty-two week low of $25.47 and a fifty-two week high of $65.87. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 5.85 and a beta of -0.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.43 and a quick ratio of 4.13.
Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last announced its quarterly earnings data 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. The firm 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%. On average, sell-side analysts anticipate that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current year.
Okeanis Eco Tankers Increases Dividend
The business also recently disclosed 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 is a boost from Okeanis Eco Tankers's previous quarterly dividend of $2.00. This represents a $21.00 dividend on an annualized basis and a yield of 33.5%. The ex-dividend date is Friday, August 14th. Okeanis Eco Tankers's dividend payout ratio is currently 195.90%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. B. Riley Financial boosted their target price 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. 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. Weiss Ratings upgraded shares of Okeanis Eco Tankers from a "hold (c+)" rating to a "buy (b)" rating in a report on Thursday, August 6th. 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. Finally, Zacks Research raised Okeanis Eco Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. One investment 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 company's stock. Based on data from MarketBeat.com, Okeanis Eco Tankers currently has an average rating of "Moderate Buy" and a consensus target price of $59.52.
Read Our Latest Stock Analysis on Okeanis Eco Tankers
Institutional Trading of Okeanis Eco Tankers
Hedge funds have recently bought and sold shares of the stock. Encompass Capital Advisors LLC bought a new position in Okeanis Eco Tankers in the fourth quarter valued at approximately $27,416,000. Fearnley Asset Management AS bought a new stake in shares of Okeanis Eco Tankers during the fourth quarter worth $18,696,000. Marshall Wace LLP bought a new stake in shares of Okeanis Eco Tankers during the fourth quarter worth $10,911,000. JPMorgan Chase & Co. acquired a new stake in shares of Okeanis Eco Tankers during the fourth quarter worth $5,222,000. Finally, Bank of America Corp DE raised its holdings in shares of Okeanis Eco Tankers by 96.7% during the first 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.
About Okeanis Eco Tankers
(
Get Free Report)
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.
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