Militia Capital Management LLC Buys Shares of 70,000 Okeanis Eco Tankers Corp. $ECO

Militia Capital Management LLC purchased a new position in shares of Okeanis Eco Tankers Corp. (NYSE:ECO) during the first quarter, Holdings Channel reports. The fund purchased 70,000 shares of the company’s stock, valued at approximately $3,541,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Okeanis Eco Tankers by 102.3% in 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 period. Fifth Third Bancorp purchased a new position in Okeanis Eco Tankers during the 1st quarter valued at about $29,000. Quarry LP purchased a new position in Okeanis Eco Tankers during the 3rd quarter valued at about $29,000. BNP Paribas Financial Markets purchased a new position in Okeanis Eco Tankers during the 2nd quarter valued at about $25,000. Finally, Verition Fund Management LLC grew its position in Okeanis Eco Tankers by 22.1% in the 4th quarter. Verition Fund Management LLC now owns 8,784 shares of the company’s stock valued at $297,000 after acquiring an additional 1,591 shares in the last quarter.

Okeanis Eco Tankers Price Performance

ECO stock opened at $56.45 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.70 and a quick ratio of 1.56. The firm has a market capitalization of $2.20 billion, a P/E ratio of 9.97 and a beta of -0.07. The business’s 50-day moving average is $52.58 and its two-hundred day moving average is $48.71. Okeanis Eco Tankers Corp. has a 1 year low of $23.34 and a 1 year high of $58.45.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The business had revenue of $170.16 million during the quarter, compared to analysts’ expectations of $134.02 million. Analysts anticipate that Okeanis Eco Tankers Corp. will post 9.53 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 28th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 14.2%. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Thursday, May 28th. Okeanis Eco Tankers’s dividend payout ratio is 141.34%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ECO. Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. B. Riley Financial raised their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Thursday, June 18th. Zacks Research downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Pareto Securities downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price on the stock. in a research note on Monday, May 25th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $59.52.

Okeanis Eco Tankers Company Profile

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.