Okeanis Eco Tankers Target of Unusually High Options Trading (NYSE:ECO)

Okeanis Eco Tankers Corp. (NYSE:ECO) was the target of some unusual options trading on Tuesday. Stock investors acquired 3,026 put options on the company. This is an increase of 1,166% compared to the average volume of 239 put options.

Analysts Set New Price Targets

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

Institutional Trading of Okeanis Eco Tankers

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth about $25,000. Fifth Third Bancorp acquired a new stake in shares of Okeanis Eco Tankers in the 1st quarter valued at approximately $29,000. Quarry LP acquired a new position in Okeanis Eco Tankers during the third quarter worth $29,000. Caitong International Asset Management Co. Ltd raised its position in Okeanis Eco Tankers by 102.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after acquiring an additional 532 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at about $107,000.

Okeanis Eco Tankers Trading Down 1.3%

Shares of NYSE:ECO traded down $0.81 during midday trading on Tuesday, hitting $60.58. The company had a trading volume of 368,934 shares, compared to its average volume of 473,872. The company has a current ratio of 1.70, a quick ratio of 1.56 and a debt-to-equity ratio of 0.75. Okeanis Eco Tankers has a 12 month low of $23.82 and a 12 month high of $61.53. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 10.70 and a beta of -0.15. The firm has a fifty day simple moving average of $53.19 and a 200 day simple moving average of $49.98.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.59. The business had revenue of $170.16 million for the quarter, compared to analyst estimates of $134.02 million. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. On average, analysts predict that Okeanis Eco Tankers will post 9.53 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 28th were issued a dividend of $2.00 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. The ex-dividend date was Thursday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 13.2%. Okeanis Eco Tankers’s dividend payout ratio is currently 141.34%.

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.