Okeanis Eco Tankers (NYSE:ECO) Director Sells $4,104,515.80 in Stock

Okeanis Eco Tankers Corp. (NYSE:ECO) Director Financial Lp Qvt sold 68,420 shares of the 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 sale, the director directly owned 1,347,038 shares in the company, valued at approximately $80,808,809.62. This represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 transaction of $555,376.56.

Okeanis Eco Tankers Price Performance

Okeanis Eco Tankers stock opened at $64.28 on Thursday. The company has a current ratio of 4.43, a quick ratio of 4.13 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $56.32 and a 200-day simple moving average of $51.91. The stock has a market cap of $2.51 billion, a P/E ratio of 6.00 and a beta of -0.15. Okeanis Eco Tankers Corp. has a 12-month low of $25.75 and a 12-month high of $65.87.

Okeanis Eco Tankers (NYSE:ECO) last posted its earnings results on Wednesday, August 5th. The company reported $5.91 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $220.28 million. Equities analysts expect that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders 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 32.7%. 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 dividend payout ratio (DPR) is currently 195.90%.

Wall Street Analyst Weigh In

ECO has been the subject of several recent analyst reports. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. 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. B. Riley Financial raised their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a 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 report on Friday, May 15th. Finally, 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 report on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Okeanis Eco Tankers currently has an average rating of “Moderate Buy” and a consensus target price of $59.52.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ECO. Encompass Capital Advisors LLC purchased a new stake in Okeanis Eco Tankers in the fourth quarter valued at approximately $27,416,000. Fearnley Asset Management AS acquired a new stake in shares of Okeanis Eco Tankers in the fourth quarter valued at approximately $18,696,000. Marshall Wace LLP purchased a new position in shares of Okeanis Eco Tankers during the fourth quarter worth approximately $10,911,000. JPMorgan Chase & Co. purchased a new position in shares of Okeanis Eco Tankers during the fourth quarter worth approximately $5,222,000. Finally, Bank of America Corp DE increased its holdings in shares of Okeanis Eco Tankers by 96.7% in the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after acquiring an additional 136,782 shares during the period.

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.