Goldman Sachs Group Inc. Boosts Stock Holdings 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. increased its position in Okeanis Eco Tankers Corp. (NYSE:ECO - Free Report) by 56.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,568 shares of the company's stock after buying an additional 54,528 shares during the period. 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 institutional investors and hedge funds have also added to or reduced their stakes in ECO. Citadel Advisors LLC raised its position in shares of Okeanis Eco Tankers by 21.7% during the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company's stock worth $279,000 after purchasing an additional 2,340 shares during the period. Bank of America Corp DE lifted its stake in shares of Okeanis Eco Tankers by 25.9% in the fourth quarter. Bank of America Corp DE now owns 23,307 shares of the company's stock valued at $496,000 after buying an additional 4,798 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Okeanis Eco Tankers during the fourth quarter valued at about $213,000. Boston Partners grew its holdings in shares of Okeanis Eco Tankers by 23.9% during the first quarter. Boston Partners now owns 71,731 shares of the company's stock valued at $1,585,000 after buying an additional 13,842 shares during the last quarter. Finally, Triumph Capital Management bought a new stake in shares of Okeanis Eco Tankers during the first quarter worth about $440,000.

Okeanis Eco Tankers Stock Performance

Shares of NYSE ECO traded up $0.29 during mid-day trading on Monday, reaching $29.57. 132,712 shares of the company's stock were exchanged, compared to its average volume of 132,355. The firm has a 50-day moving average price of $26.15 and a two-hundred day moving average price of $23.80. 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 capitalization of $951.76 million, a price-to-earnings ratio of 14.15 and a beta of -0.11. Okeanis Eco Tankers Corp. has a 52 week low of $17.91 and a 52 week high of $35.64.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.37. The business had revenue of $93.95 million during the quarter, compared to the consensus estimate of $56.10 million. Okeanis Eco Tankers had a net margin of 19.52% and a return on equity of 15.81%. Analysts predict that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were given a $0.70 dividend. This is an increase from Okeanis Eco Tankers's previous quarterly dividend of $0.32. This represents a $2.80 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date of this dividend was Friday, August 22nd. Okeanis Eco Tankers's dividend payout ratio (DPR) is 133.97%.

Analyst Upgrades and Downgrades

A number of analysts have commented on ECO shares. Jefferies Financial Group started 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 analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $34.50.

Okeanis Eco Tankers Profile

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.