Okeanis Eco Tankers (NYSE:ECO) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Shares saw unusually high trading volume (≈530,941 shares mid-day, up 6% from the prior session) and traded at $51.77 versus the previous close of $49.65, signaling short-term buying interest.
• The company raised its quarterly dividend to $1.55 (from $0.75), implying an annualized payout of $6.20 and a 12.3% dividend yield, though the dividend payout ratio is an elevated 165.78%.
• Okeanis reported EPS of $1.78 (above the $1.30 estimate) but missed revenue expectations, and analysts hold a consensus rating of "Moderate Buy" with an average target of $43.35 (below the current price), while some firms have higher targets such as B. Riley's $55.

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 530,941 shares traded hands during mid-day trading, an increase of 6% from the previous session's volume of 499,097 shares.The stock last traded at $51.77 and had previously closed at $49.65.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. B. Riley Financial lifted their price target on Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Weiss Ratings lowered Okeanis Eco Tankers from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, March 25th. Zacks Research upgraded Okeanis Eco Tankers from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 20th. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Finally, Clarkson Capital raised shares of Okeanis Eco Tankers from a "neutral" rating to a "buy" rating and set a $46.05 price objective on the stock in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.35.

Okeanis Eco Tankers Price Performance

The firm has a 50 day moving average price of $45.29 and a two-hundred day moving average price of $37.85. The company has a market cap of $1.96 billion, a P/E ratio of 13.42 and a beta of -0.30. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.50.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.48. Okeanis Eco Tankers had a net margin of 31.40% and a return on equity of 26.63%. The firm had revenue of $91.33 million during the quarter, compared to analyst estimates of $98.45 million. On average, analysts predict that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, March 3rd were given a dividend of $1.55 per share. This is an increase from Okeanis Eco Tankers's previous quarterly dividend of $0.75. This represents a $6.20 annualized dividend and a dividend yield of 12.3%. The ex-dividend date was Tuesday, March 3rd. Okeanis Eco Tankers's dividend payout ratio (DPR) is currently 165.78%.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its position in shares of Okeanis Eco Tankers by 102.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company's stock valued at $36,000 after acquiring an additional 532 shares during the period. Quarry LP bought a new stake in Okeanis Eco Tankers during the 3rd quarter worth approximately $29,000. BNP Paribas Financial Markets purchased a new stake in Okeanis Eco Tankers in the 2nd quarter worth approximately $25,000. Verition Fund Management LLC lifted its stake in Okeanis Eco Tankers by 22.1% in the 4th quarter. Verition Fund Management LLC now owns 8,784 shares of the company's stock worth $297,000 after purchasing an additional 1,591 shares in the last quarter. Finally, State of Wyoming boosted its holdings in Okeanis Eco Tankers by 58.6% in the 3rd quarter. State of Wyoming now owns 7,825 shares of the company's stock valued at $229,000 after purchasing an additional 2,890 shares during the period.

About Okeanis Eco Tankers

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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