Allianz Asset Management GmbH Purchases Shares of 30,470 Okeanis Eco Tankers Corp. $ECO

Allianz Asset Management GmbH purchased a new stake in Okeanis Eco Tankers Corp. (NYSE:ECO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 30,470 shares of the company's stock, valued at approximately $1,506,000. Allianz Asset Management GmbH owned approximately 0.08% of Okeanis Eco Tankers at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fifth Third Bancorp bought a new position in Okeanis Eco Tankers in the first quarter valued at approximately $29,000. Quarry LP bought a new stake 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. BNP Paribas Financial Markets acquired a new stake in Okeanis Eco Tankers in the second quarter valued at $25,000. Finally, Royal Bank of Canada lifted its stake in Okeanis Eco Tankers by 29,762.5% in the first quarter. Royal Bank of Canada now owns 2,389 shares of the company's stock valued at $121,000 after acquiring an additional 2,381 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Okeanis Eco Tankers from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Pareto Securities lowered Okeanis Eco Tankers from a "buy" rating to a "hold" rating and set a $57.50 price objective on the stock. in a research note on Monday, May 25th. Weiss Ratings downgraded Okeanis Eco Tankers from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 25th. Clarkson Capital downgraded Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. Finally, Zacks Research raised Okeanis Eco Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Okeanis Eco Tankers presently has an average rating of "Moderate Buy" and an average target price of $59.52.

Okeanis Eco Tankers Stock Performance

Shares of NYSE:ECO opened at $71.72 on Thursday. Okeanis Eco Tankers Corp. has a 12-month low of $27.74 and a 12-month high of $72.75. The company's 50 day moving average price is $60.96 and its two-hundred day moving average price is $54.63. The firm has a market cap of $2.80 billion, a PE ratio of 6.69 and a beta of -0.11. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share for the quarter, beating analysts' consensus estimates of $4.61 by $1.30. The company had revenue of $268.14 million during the quarter, compared to the consensus estimate of $220.28 million. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%. Equities research analysts predict that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a dividend of $5.25 per share. This is a positive change from Okeanis Eco Tankers's previous quarterly dividend of $2.00. This represents a $21.00 annualized dividend and a yield of 29.3%. The ex-dividend date of this dividend was Friday, August 14th. Okeanis Eco Tankers's dividend payout ratio (DPR) is currently 195.90%.

Insider Transactions at Okeanis Eco Tankers

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $59.99, for a total value of $4,104,515.80. Following the transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.

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