Cetera Investment Advisers Invests $2.19 Million in Okeanis Eco Tankers Corp. $ECO

Key Points

• Cetera Investment Advisers acquired 42,403 shares of Okeanis Eco Tankers worth approximately $2.19 million, joining several other institutional investors that recently established positions.
• Okeanis Eco Tankers reported quarterly EPS of $5.91, exceeding estimates by $1.30, while revenue of $268.14 million also surpassed expectations.
• The company raised its quarterly dividend to $5.25 per share, implying a $21.00 annualized payout and a 33.9% yield; analysts nevertheless maintain a consensus “Hold” rating with a $59.52 average price target.

Cetera Investment Advisers acquired a new stake in shares of Okeanis Eco Tankers Corp. (NYSE:ECO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 42,403 shares of the company's stock, valued at approximately $2,185,000. Cetera Investment Advisers owned 0.11% of Okeanis Eco Tankers at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ECO. Militia Capital Management LLC bought a new stake in Okeanis Eco Tankers during the first quarter valued at about $3,541,000. Navellier & Associates Inc. purchased a new position in shares of Okeanis Eco Tankers during the 4th quarter valued at about $631,000. Encompass Capital Advisors LLC purchased a new position in shares of Okeanis Eco Tankers during the 4th quarter valued at about $27,416,000. GeoSphere Capital Management LLC bought a new position in shares of Okeanis Eco Tankers during the 4th quarter valued at approximately $2,453,000. Finally, Fearnley Asset Management AS bought a new position in shares of Okeanis Eco Tankers during the 4th quarter valued at approximately $18,696,000.

Okeanis Eco Tankers Trading Up 0.0%

Shares of Okeanis Eco Tankers stock opened at $61.87 on Monday. Okeanis Eco Tankers Corp. has a twelve month low of $23.82 and a twelve month high of $64.26. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $54.10 and a 200-day moving average price of $50.60. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 5.77 and a beta of -0.15.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $5.91 EPS 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 company had revenue of $268.14 million for the quarter, compared to the consensus estimate of $220.28 million. Equities research analysts anticipate that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 14th will be given a $5.25 dividend. This is a boost from Okeanis Eco Tankers's previous quarterly dividend of $2.00. This represents a $21.00 annualized dividend and a yield of 33.9%. The ex-dividend date is Friday, August 14th. Okeanis Eco Tankers's dividend payout ratio (DPR) is presently 74.63%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ECO shares. Pareto Securities cut shares of Okeanis Eco Tankers from a "buy" rating to a "hold" rating and set a $57.50 target price on the stock. in a research note on Monday, May 25th. Clarkson Capital cut Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Zacks Research downgraded Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Weiss Ratings raised Okeanis Eco Tankers from a "hold (c+)" rating to a "buy (b)" rating in a research note on Thursday. Finally, B. Riley Financial lifted their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Okeanis Eco Tankers currently has a consensus rating of "Hold" and an average price target of $59.52.

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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