Encompass Capital Advisors LLC Sells 432,722 Shares of Okeanis Eco Tankers Corp. $ECO

Encompass Capital Advisors LLC reduced its position in shares of Okeanis Eco Tankers Corp. (NYSE:ECO) by 53.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 377,432 shares of the company’s stock after selling 432,722 shares during the period. Encompass Capital Advisors LLC owned 0.97% of Okeanis Eco Tankers worth $19,094,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Militia Capital Management LLC bought a new position in Okeanis Eco Tankers during the 1st quarter valued at approximately $3,541,000. Navellier & Associates Inc. bought a new stake in shares of Okeanis Eco Tankers in the 4th quarter worth approximately $631,000. Walleye Capital LLC increased its stake in shares of Okeanis Eco Tankers by 71.9% during the first quarter. Walleye Capital LLC now owns 177,417 shares of the company’s stock valued at $8,976,000 after buying an additional 74,231 shares during the period. GeoSphere Capital Management LLC purchased a new position in shares of Okeanis Eco Tankers during the fourth quarter valued at approximately $2,453,000. Finally, Fearnley Asset Management AS bought a new position in shares of Okeanis Eco Tankers during the fourth quarter valued at approximately $18,696,000.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Thursday, June 18th. Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. B. Riley Financial raised their target price on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Wall Street Zen lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Pareto Securities lowered shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price on the stock. in a research note on Monday, May 25th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $59.52.

Okeanis Eco Tankers Stock Down 0.6%

Shares of NYSE:ECO opened at $57.53 on Tuesday. The firm has a market capitalization of $2.25 billion, a P/E ratio of 10.17 and a beta of -0.07. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70. The stock has a 50 day moving average price of $52.73 and a 200-day moving average price of $49.24. Okeanis Eco Tankers Corp. has a 52-week low of $23.34 and a 52-week high of $59.07.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.59. The company had revenue of $170.16 million for the quarter, compared to analyst estimates of $134.02 million. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%. As a group, equities research analysts anticipate that Okeanis Eco Tankers Corp. will post 9.53 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed 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 an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 annualized dividend and a yield of 13.9%. The ex-dividend date of this dividend was Thursday, May 28th. Okeanis Eco Tankers’s payout ratio is 141.34%.

Okeanis Eco Tankers 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.