18,657 Shares in Okeanis Eco Tankers Corp. $ECO Bought by Navellier & Associates Inc.

Key Points

• Navellier & Associates initiated a new stake of 18,657 shares (~$631,000) in Okeanis Eco Tankers during Q4, while UBS dramatically boosted its holding to 63,065 shares (up 1,616.5%) and several other funds (Millennium, Militia, Verition, Quarry) also added positions.
• Okeanis raised its quarterly dividend to $1.55 (annualized $6.20), implying a 11.3% yield165.78%, which may raise sustainability concerns.
• Analysts are split (three Buys, three Holds) with a MarketBeat consensus of Moderate Buy and a $43.35 target, yet the stock trades around $54.82 after an EPS beat ($1.78 vs. $1.30) and has a market cap of $2.14B.

Navellier & Associates Inc. purchased a new stake in shares of Okeanis Eco Tankers Corp. (NYSE:ECO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 18,657 shares of the company's stock, valued at approximately $631,000.

Other large investors have also modified their holdings of the company. UBS Group AG boosted its stake in shares of Okeanis Eco Tankers by 1,616.5% during the 4th quarter. UBS Group AG now owns 63,065 shares of the company's stock worth $2,134,000 after acquiring an additional 59,391 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at about $211,000. Quarry LP acquired a new position in Okeanis Eco Tankers in the 3rd quarter worth about $29,000. Militia Capital Partners LP acquired a new position in Okeanis Eco Tankers in the 3rd quarter worth about $1,024,000. Finally, Millennium Management LLC purchased a new position in Okeanis Eco Tankers during the third quarter worth approximately $486,000.

Analyst Upgrades and Downgrades

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

Okeanis Eco Tankers Trading Down 3.7%

Shares of ECO opened at $54.82 on Thursday. Okeanis Eco Tankers Corp. has a 52-week low of $21.27 and a 52-week high of $57.49. The company has a quick ratio of 1.39, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. The firm's fifty day moving average is $50.46 and its two-hundred day moving average is $41.77. The stock has a market cap of $2.14 billion, a PE ratio of 14.66 and a beta of 0.09.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its earnings results on Wednesday, February 18th. The company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.48. The business had revenue of $91.33 million during the quarter, compared to analysts' expectations of $98.45 million. Okeanis Eco Tankers had a net margin of 31.40% and a return on equity of 26.63%. Research analysts forecast that Okeanis Eco Tankers Corp. will post 4.35 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

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

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.

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