Okeanis Eco Tankers Target of Unusually High Options Trading (NYSE:ECO)

Key Points

• Put-option activity surged: Traders purchased 3,026 put options in Okeanis Eco Tankers, 1,166% above the typical daily volume, signaling unusually high options activity.
• The stock traded at $60.58, near its 52-week high, after reporting quarterly earnings and revenue well above analyst expectations. Analysts forecast full-year earnings per share of $9.53.
• The quarterly dividend increased to $2.00 per share, or $8.00 annualized, representing a 13.2% yield. Despite the higher payout, analysts maintain a consensus “Hold” rating with a $59.52 price target.

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock traders purchased 3,026 put options on the stock. This is an increase of 1,166% compared to the typical daily volume of 239 put options.

Institutional Trading of Okeanis Eco Tankers

A number of large investors have recently added to or reduced their stakes in the business. State of Wyoming boosted its stake in shares of Okeanis Eco Tankers by 2.6% during the 1st quarter. State of Wyoming now owns 8,123 shares of the company's stock worth $411,000 after acquiring an additional 202 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Okeanis Eco Tankers by 102.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company's stock valued at $36,000 after purchasing an additional 532 shares during the period. Fifth Third Bancorp purchased a new stake in Okeanis Eco Tankers in the 1st quarter worth approximately $29,000. Quarry LP purchased a new stake in shares of Okeanis Eco Tankers during the third quarter worth $29,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Okeanis Eco Tankers during the 2nd quarter worth about $25,000.

Okeanis Eco Tankers Stock Performance

Okeanis Eco Tankers stock traded down $0.81 during midday trading on Tuesday, reaching $60.58. 368,934 shares of the stock traded hands, compared to its average volume of 473,872. 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 has a fifty-two week low of $23.82 and a fifty-two week high of $61.53. The firm has a fifty day moving average price of $53.19 and a two-hundred day moving average price of $49.98. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 10.70 and a beta of -0.15.

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 for the quarter, beating analysts' consensus estimates of $1.74 by $0.59. The business had revenue of $170.16 million for the quarter, compared to analysts' expectations of $134.02 million. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. On average, equities research analysts forecast that Okeanis Eco Tankers will post 9.53 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, June 5th. Investors of record on Thursday, May 28th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Thursday, May 28th. This is a positive change from Okeanis Eco Tankers's previous quarterly dividend of $1.55. This represents a $8.00 annualized dividend and a yield of 13.2%. Okeanis Eco Tankers's dividend payout ratio is presently 141.34%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. B. Riley Financial boosted their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock 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. Pareto Securities lowered Okeanis Eco Tankers from a "buy" rating to a "hold" rating and set a $57.50 target price on the stock. in a research report on Monday, May 25th. Finally, Zacks Research cut shares of Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Okeanis Eco Tankers presently has a consensus rating of "Hold" and a consensus price target of $59.52.

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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