Triumph Capital Management Sells 9,887 Shares of Okeanis Eco Tankers Corp. $ECO

Key Points

• Triumph Capital Management reduced its holdings in Okeanis Eco Tankers Corp. by 49.6% in the second quarter, now owning 10,028 shares valued at approximately $218,000.
• Okeanis Eco Tankers has announced an increased quarterly dividend of $0.70 per share, up from $0.32, resulting in an annualized yield of 9.2%.
• The company reported an EPS of $0.83 for the last quarter, significantly exceeding estimates, with revenue of $93.95 million compared to the expected $56.10 million.

Triumph Capital Management reduced its holdings in Okeanis Eco Tankers Corp. (NYSE:ECO - Free Report) by 49.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,028 shares of the company's stock after selling 9,887 shares during the quarter. Triumph Capital Management's holdings in Okeanis Eco Tankers were worth $218,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ECO. Bank of America Corp DE increased its position 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 worth $496,000 after acquiring an additional 4,798 shares in the last quarter. Citadel Advisors LLC increased its position 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. B. Riley Wealth Advisors Inc. purchased a new position in shares of Okeanis Eco Tankers in the fourth quarter worth approximately $213,000. SG Americas Securities LLC purchased a new position in shares of Okeanis Eco Tankers in the first quarter worth approximately $4,466,000. Finally, Boston Partners increased its position in shares of Okeanis Eco Tankers by 23.9% in the first quarter. Boston Partners now owns 71,731 shares of the company's stock worth $1,585,000 after acquiring an additional 13,842 shares in the last quarter.

Okeanis Eco Tankers Price Performance

Shares of ECO stock traded down $0.92 during mid-day trading on Friday, reaching $29.27. The company's stock had a trading volume of 98,528 shares, compared to its average volume of 132,576. Okeanis Eco Tankers Corp. has a 1-year low of $17.91 and a 1-year high of $35.64. The company has a market cap of $942.20 million, a P/E ratio of 14.00 and a beta of -0.09. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.65 and a current ratio of 1.96. The firm's 50-day moving average is $26.03 and its two-hundred day moving average is $23.72.

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

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 9.6%. 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 payout ratio is currently 133.97%.

Analyst Ratings Changes

Several research firms have recently weighed in on ECO. Zacks Research raised shares of Okeanis Eco Tankers from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Jefferies Financial Group assumed coverage on shares of Okeanis Eco Tankers in a research report on Wednesday, July 23rd. They set a "buy" rating and a $29.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat.com, Okeanis Eco Tankers presently has a consensus rating of "Buy" and a consensus price target of $34.50.

Okeanis Eco Tankers Company 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.