Navellier & Associates Inc. Buys Shares of 18,657 Okeanis Eco Tankers Corp. $ECO

Navellier & Associates Inc. bought a new position in Okeanis Eco Tankers Corp. (NYSE:ECO) in the fourth quarter, Holdings Channel reports. The institutional investor bought 18,657 shares of the company’s stock, valued at approximately $631,000.

Several other institutional investors have also modified their holdings of ECO. Militia Capital Partners LP purchased a new stake in shares of Okeanis Eco Tankers in the third quarter valued at about $1,024,000. SG Americas Securities LLC raised its stake in Okeanis Eco Tankers by 5.4% during the third quarter. SG Americas Securities LLC now owns 443,695 shares of the company’s stock worth $12,987,000 after purchasing an additional 22,906 shares during the period. Quantbot Technologies LP acquired a new position in Okeanis Eco Tankers in the 3rd quarter valued at about $344,000. Centiva Capital LP acquired a new position in Okeanis Eco Tankers in the 3rd quarter valued at about $259,000. Finally, State of Wyoming grew its stake in shares of Okeanis Eco Tankers by 58.6% in the 3rd quarter. State of Wyoming now owns 7,825 shares of the company’s stock valued at $229,000 after buying an additional 2,890 shares during the period.

Okeanis Eco Tankers Price Performance

Okeanis Eco Tankers stock opened at $54.82 on Thursday. The company’s 50 day simple moving average is $50.46 and its 200-day simple moving average is $41.77. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.50. Okeanis Eco Tankers Corp. has a 1 year low of $21.27 and a 1 year high of $57.49. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 14.66 and a beta of 0.09.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.48. Okeanis Eco Tankers had a net margin of 31.40% and a return on equity of 26.63%. The firm had revenue of $91.33 million during the quarter, compared to analysts’ expectations of $98.45 million. As a group, equities research analysts expect that Okeanis Eco Tankers Corp. will post 4.35 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd were given a dividend of $1.55 per share. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 annualized dividend and a dividend yield of 11.3%. The ex-dividend date was Tuesday, March 3rd. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 165.78%.

Analyst Ratings Changes

Several analysts have recently commented on ECO shares. Clarkson Capital raised shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price target on the stock in a research report on Tuesday, January 27th. Weiss Ratings cut Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 25th. B. Riley Financial lifted their target price on Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Zacks Research lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 29th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.35.

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.