Goldman Sachs Group Inc. Has $3.33 Million Stake in Okeanis Eco Tankers Corp. $ECO

Key Points

• Goldman Sachs Group Inc. has increased its stake in Okeanis Eco Tankers Corp. by 56.8%, owning 150,568 shares valued at approximately $3.33 million as of the latest SEC disclosure.
• The company recently reported strong quarterly earnings with an EPS of $0.83, significantly surpassing estimates, and generated revenue of $93.95 million compared to expectations of $56.10 million.
• Okeanis Eco Tankers announced a quarterly dividend of $0.70 per share, showing a notable increase from its previous dividend, with an annual yield of 9.3%.

Goldman Sachs Group Inc. grew its holdings in Okeanis Eco Tankers Corp. (NYSE:ECO - Free Report) by 56.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,568 shares of the company's stock after acquiring an additional 54,528 shares during the quarter. Goldman Sachs Group Inc. owned 0.47% of Okeanis Eco Tankers worth $3,328,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ECO. B. Riley Wealth Advisors Inc. bought a new stake in shares of Okeanis Eco Tankers in the fourth quarter worth about $213,000. Citadel Advisors LLC increased its holdings in shares of Okeanis Eco Tankers by 21.7% in the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company's stock worth $279,000 after acquiring an additional 2,340 shares in the last quarter. Triumph Capital Management bought a new stake in shares of Okeanis Eco Tankers in the first quarter worth about $440,000. Bank of America Corp DE grew its holdings in shares of Okeanis Eco Tankers by 25.9% during the fourth quarter. Bank of America Corp DE now owns 23,307 shares of the company's stock worth $496,000 after buying an additional 4,798 shares in the last quarter. Finally, Energy Income Partners LLC grew its holdings in shares of Okeanis Eco Tankers by 84.6% during the first quarter. Energy Income Partners LLC now owns 51,189 shares of the company's stock worth $1,131,000 after buying an additional 23,452 shares in the last quarter.

Analyst Upgrades and Downgrades

ECO has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Okeanis Eco Tankers in a report on Wednesday, July 23rd. They set a "buy" rating and a $29.00 price objective for the company. Zacks Research raised Okeanis Eco Tankers from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $34.50.

Okeanis Eco Tankers Price Performance

Okeanis Eco Tankers stock opened at $30.13 on Friday. The stock's fifty day moving average price is $25.92 and its two-hundred day moving average price is $23.64. Okeanis Eco Tankers Corp. has a one year low of $17.91 and a one year high of $35.64. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.96 and a quick ratio of 1.65. The firm has a market cap of $969.88 million, a PE ratio of 14.42 and a beta of -0.09.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.37. The company had revenue of $93.95 million for the quarter, compared to analyst estimates of $56.10 million. Okeanis Eco Tankers had a return on equity of 15.81% and a net margin of 19.52%. As a group, research analysts expect that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date of this dividend was Friday, August 22nd. This is a positive change from Okeanis Eco Tankers's previous quarterly dividend of $0.32. Okeanis Eco Tankers's dividend payout ratio is presently 133.97%.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.

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