Inspire Investing LLC Makes New Investment in Okeanis Eco Tankers Corp. $ECO

Key Points

• Inspire Investing purchased 28,914 shares of Okeanis Eco Tankers worth approximately $2.34 million, acquiring a 0.07% stake. Several other institutional investors also initiated or increased positions during the quarter.
• Okeanis Eco Tankers reported quarterly earnings of $5.91 per share and revenue of $268.14 million, exceeding analyst expectations. The company also raised its quarterly dividend to $5.25 per share, equivalent to a 22.2% annualized yield.
• The stock opened at $94.65, near its 12-month high of $100.68, while analyst sentiment remained mixed with a consensus “Hold” rating and an average price target of $67.85. An affiliated director separately sold 68,420 shares for approximately $4.1 million.

Inspire Investing LLC bought a new position in shares of Okeanis Eco Tankers Corp. (NYSE:ECO - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 28,914 shares of the company's stock, valued at approximately $2,339,000. Inspire Investing LLC owned approximately 0.07% of Okeanis Eco Tankers at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. U S Global Investors Inc. acquired a new position in Okeanis Eco Tankers during the 3rd quarter worth approximately $1,000,000. SBI Securities Co. Ltd. lifted its holdings in shares of Okeanis Eco Tankers by 48,800.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 978 shares of the company's stock valued at $79,000 after buying an additional 976 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Okeanis Eco Tankers during the 2nd quarter worth $149,000. Allianz Asset Management GmbH acquired a new stake in shares of Okeanis Eco Tankers in the 2nd quarter worth approximately $1,506,000. Finally, Triumph Capital Management boosted its position in shares of Okeanis Eco Tankers by 1.6% in the 2nd quarter. Triumph Capital Management now owns 20,112 shares of the company's stock worth $1,008,000 after buying an additional 312 shares in the last quarter.

Insider Transactions at Okeanis Eco Tankers

In related news, Director Financial Lp Qvt sold 68,420 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $59.99, for a total value of $4,104,515.80. Following the sale, the director directly owned 1,347,038 shares in the company, valued at $80,808,809.62. This trade represents a 4.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Okeanis Eco Tankers Stock Down 0.1%

Shares of NYSE:ECO opened at $94.65 on Monday. The firm has a market cap of $3.70 billion, a PE ratio of 8.83 and a beta of -0.19. Okeanis Eco Tankers Corp. has a 12-month low of $31.75 and a 12-month high of $100.68. The company has a fifty day simple moving average of $79.09 and a 200 day simple moving average of $62.87. The company has a current ratio of 4.43, a quick ratio of 4.13 and a debt-to-equity ratio of 0.76.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share 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 business had revenue of $268.14 million for the quarter, compared to analysts' expectations of $220.28 million. On average, 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 disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were given a dividend of $5.25 per share. This is a boost from Okeanis Eco Tankers's previous quarterly dividend of $2.00. This represents a $21.00 annualized dividend and a dividend yield of 22.2%. The ex-dividend date was Friday, August 14th. Okeanis Eco Tankers's payout ratio is presently 195.90%.

Analyst Ratings Changes

A number of research firms have issued reports on ECO. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Zacks Research lowered Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Weiss Ratings upgraded shares of Okeanis Eco Tankers from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, September 9th. Finally, B. Riley Financial boosted their target price on shares of Okeanis Eco Tankers from $75.00 to $100.00 and gave the company a "buy" rating in a report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $67.85.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates oceangoing tankers. The company focuses primarily on the transportation of crude oil and refined petroleum products for energy companies, commodity traders and other customers in the global oil industry.

Its fleet consists mainly of large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, as well as product tankers designed to transport refined petroleum products. Okeanis Eco Tankers emphasizes fuel efficiency and environmental performance through the use of modern vessels and technologies intended to reduce emissions and operating consumption.

Okeanis Eco Tankers was established in 2018 and is headquartered in Athens, Greece.

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