555,247 Shares in Okeanis Eco Tankers Corp. $ECO Bought by Fearnley Asset Management AS

Fearnley Asset Management AS bought a new stake in Okeanis Eco Tankers Corp. (NYSE:ECO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 555,247 shares of the company’s stock, valued at approximately $18,696,000. Okeanis Eco Tankers comprises 8.6% of Fearnley Asset Management AS’s portfolio, making the stock its 2nd largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in Okeanis Eco Tankers during the 2nd quarter worth approximately $25,000. Quarry LP bought a new stake in shares of Okeanis Eco Tankers during the 3rd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd grew its stake in Okeanis Eco Tankers by 102.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after purchasing an additional 532 shares during the period. State of Wyoming bought a new position in Okeanis Eco Tankers during the second quarter worth $107,000. Finally, Verition Fund Management LLC acquired a new stake in Okeanis Eco Tankers in the third quarter worth $211,000.

Okeanis Eco Tankers Stock Down 0.1%

ECO stock opened at $52.45 on Friday. The stock has a fifty day moving average of $52.15 and a 200-day moving average of $45.56. Okeanis Eco Tankers Corp. has a fifty-two week low of $21.27 and a fifty-two week high of $58.45. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 9.27 and a beta of -0.05. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $170.16 million for the quarter, compared to analyst estimates of $134.02 million. As a group, equities research analysts predict that Okeanis Eco Tankers Corp. 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 paid a $2.00 dividend. 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 yield of 15.3%. The ex-dividend date of this dividend was Thursday, May 28th. Okeanis Eco Tankers’s payout ratio is currently 141.34%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. B. Riley Financial upped their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Pareto Securities downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target for the company. in a research report on Monday, May 25th. 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, Clarkson Capital downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.89.

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.