Encompass Capital Advisors LLC Lowers Stock Holdings in Okeanis Eco Tankers Corp. $ECO

Encompass Capital Advisors LLC reduced its stake in Okeanis Eco Tankers Corp. (NYSE:ECO) by 53.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 377,432 shares of the company’s stock after selling 432,722 shares during the quarter. Encompass Capital Advisors LLC’s holdings in Okeanis Eco Tankers were worth $19,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ECO. State of Wyoming grew its position in Okeanis Eco Tankers by 2.6% during the 1st quarter. State of Wyoming now owns 8,123 shares of the company’s stock valued at $411,000 after purchasing an additional 202 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Okeanis Eco Tankers by 102.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after buying an additional 532 shares during the last quarter. Fifth Third Bancorp purchased a new position in Okeanis Eco Tankers in the first quarter worth about $29,000. Quarry LP bought a new position in shares of Okeanis Eco Tankers in the third quarter worth approximately $29,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Okeanis Eco Tankers in the second quarter worth approximately $25,000.

Okeanis Eco Tankers Stock Performance

Shares of ECO stock opened at $57.53 on Tuesday. The company has a 50 day moving average price of $52.73 and a 200-day moving average price of $49.24. Okeanis Eco Tankers Corp. has a 52 week low of $23.34 and a 52 week high of $59.07. The firm has a market capitalization of $2.25 billion, a PE ratio of 10.17 and a beta of -0.07. The company has a quick ratio of 1.56, a current ratio of 1.70 and a debt-to-equity ratio of 0.75.

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

Okeanis Eco Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 28th were paid a dividend of $2.00 per share. The ex-dividend date was Thursday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 13.9%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 141.34%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ECO shares. 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Thursday, June 18th. Wall Street Zen downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Pareto Securities lowered 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. Finally, Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Okeanis Eco Tankers currently has a consensus rating of “Hold” and a consensus target price of $59.52.

Okeanis Eco Tankers 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.