Militia Capital Management LLC Makes New Investment in Okeanis Eco Tankers Corp. $ECO

Key Points

• Militia Capital Management disclosed a new first-quarter stake in Okeanis Eco Tankers, buying 70,000 shares valued at about $3.54 million.
• The company reported strong quarterly results, with EPS of $2.33 topping estimates of $1.74 and revenue of $170.16 million exceeding expectations.
• Okeanis Eco Tankers raised its quarterly dividend to $2.00 per share, implying an annualized yield of about 14.2%, though the payout ratio is elevated at 141.34%.

Militia Capital Management LLC bought a new stake in Okeanis Eco Tankers Corp. (NYSE:ECO - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 70,000 shares of the company's stock, valued at approximately $3,541,000. Militia Capital Management LLC owned about 0.18% of Okeanis Eco Tankers as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in Okeanis Eco Tankers by 56.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company's stock valued at $3,328,000 after acquiring an additional 54,528 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Okeanis Eco Tankers in the second quarter valued at approximately $613,000. Lighthouse Investment Partners LLC increased its holdings in shares of Okeanis Eco Tankers by 13.5% in the second quarter. Lighthouse Investment Partners LLC now owns 46,816 shares of the company's stock valued at $1,017,000 after purchasing an additional 5,558 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Okeanis Eco Tankers during the second quarter worth approximately $25,000. Finally, Semmax Financial Advisors Inc. lifted its position in Okeanis Eco Tankers by 8.2% during the second quarter. Semmax Financial Advisors Inc. now owns 132,545 shares of the company's stock worth $2,880,000 after buying an additional 10,016 shares in the last quarter.

Okeanis Eco Tankers Stock Performance

NYSE ECO opened at $56.45 on Thursday. The stock has a market cap of $2.20 billion, a PE ratio of 9.97 and a beta of -0.07. The company has a current ratio of 1.70, a quick ratio of 1.56 and a debt-to-equity ratio of 0.75. Okeanis Eco Tankers Corp. has a twelve month low of $23.34 and a twelve month high of $58.45. The stock has a fifty day simple moving average of $52.58 and a 200-day simple moving average of $48.71.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The firm had revenue of $170.16 million during the quarter, compared to the consensus estimate of $134.02 million. Equities analysts anticipate that Okeanis Eco Tankers Corp. will post 9.53 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 28th were given a dividend of $2.00 per share. This is a boost from Okeanis Eco Tankers's previous quarterly dividend of $1.55. This represents a $8.00 dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date was Thursday, May 28th. Okeanis Eco Tankers's dividend payout ratio (DPR) is 141.34%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ECO shares. Pareto Securities downgraded Okeanis Eco Tankers from a "buy" rating to a "hold" rating and set a $57.50 target price for the company. in a research note on Monday, May 25th. B. Riley Financial upped their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a "buy" rating in a report on Friday, May 15th. Wall Street Zen cut shares of Okeanis Eco Tankers from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Okeanis Eco Tankers in a research note on Thursday, June 18th. Finally, Zacks Research lowered shares of Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Okeanis Eco Tankers presently has a consensus rating of "Hold" and an average target price of $59.52.

Okeanis Eco Tankers Company Profile

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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