11,156 Shares in Okeanis Eco Tankers Corp. $ECO Bought by Aviance Capital Partners LLC

Key Points

• Aviance Capital Partners acquired 11,156 shares of Okeanis Eco Tankers in the third quarter, worth approximately $902,000. Several other hedge funds also increased or initiated positions in the company.
• Okeanis reported quarterly earnings of $5.91 per share, beating estimates of $4.61, while revenue reached $268.14 million versus the $220.28 million consensus forecast.
• The company raised its quarterly dividend to $5.25 per share, implying a 20.7% yield, but analysts maintain a consensus “Hold” rating with a $67.85 price target, below the stock’s reported $101.24 price.

Aviance Capital Partners LLC acquired a new stake in Okeanis Eco Tankers Corp. (NYSE:ECO - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,156 shares of the company's stock, valued at approximately $902,000.

A number of other hedge funds have also made changes to their positions in the stock. Bank of America Corp DE lifted its position 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 worth $14,079,000 after acquiring an additional 136,782 shares during the period. Walleye Capital LLC grew its position in Okeanis Eco Tankers by 71.9% during the 1st quarter. Walleye Capital LLC now owns 177,417 shares of the company's stock worth $8,976,000 after acquiring an additional 74,231 shares during the last quarter. Militia Capital Management LLC bought a new position in Okeanis Eco Tankers during the first quarter worth $3,541,000. Energy Income Partners LLC lifted its stake in shares of Okeanis Eco Tankers by 3.4% in the first quarter. Energy Income Partners LLC now owns 69,118 shares of the company's stock valued at $3,497,000 after buying an additional 2,250 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in Okeanis Eco Tankers in the 1st quarter valued at $2,185,000.

Okeanis Eco Tankers Stock Down 0.1%

NYSE:ECO opened at $101.24 on Monday. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 9.44 and a beta of -0.19. Okeanis Eco Tankers Corp. has a 1-year low of $31.75 and a 1-year high of $102.56. 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 business's fifty day moving average price is $82.43 and its 200 day moving average price is $58.86.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $268.14 million for the quarter, compared to the consensus estimate of $220.28 million. On average, sell-side analysts forecast that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were issued a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 20.7%. This is an increase from Okeanis Eco Tankers's previous quarterly dividend of $2.00. The ex-dividend date was Friday, August 14th. Okeanis Eco Tankers's dividend payout ratio (DPR) is presently 195.90%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ECO. Weiss Ratings raised shares of Okeanis Eco Tankers from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, September 9th. B. Riley Financial increased their target price on shares of Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, October 5th. Zacks Research lowered shares of Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $67.85.

Insider Activity at Okeanis Eco Tankers

In other news, Director Financial Lp Qvt sold 68,420 shares of the firm's 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 owned 1,347,038 shares of the company's stock, valued at $80,808,809.62. This trade represents a 4.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Okeanis Eco Tankers Profile

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates oceangoing tankers. The company focuses primarily on the transportation of crude oil and refined petroleum products for energy companies, commodity traders and other customers in the global oil industry.

Its fleet consists mainly of large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, as well as product tankers designed to transport refined petroleum products. Okeanis Eco Tankers emphasizes fuel efficiency and environmental performance through the use of modern vessels and technologies intended to reduce emissions and operating consumption.

Okeanis Eco Tankers was established in 2018 and is headquartered in Athens, Greece.

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