Cvfg LLC Acquires New Stake in Okeanis Eco Tankers Corp. $ECO

Cvfg LLC acquired a new stake in shares of Okeanis Eco Tankers Corp. (NYSE:ECO) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,665 shares of the company’s stock, valued at approximately $1,602,000. Cvfg LLC owned 0.08% of Okeanis Eco Tankers at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at $25,000. Quarry LP purchased a new stake in Okeanis Eco Tankers in the 3rd quarter worth about $29,000. Caitong International Asset Management Co. Ltd raised its stake in 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 acquiring an additional 532 shares during the period. State of Wyoming purchased a new stake in Okeanis Eco Tankers during the second quarter valued at about $107,000. Finally, Verition Fund Management LLC purchased a new stake in Okeanis Eco Tankers during the third quarter valued at about $211,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ECO shares. Wall Street Zen downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. B. Riley Financial raised their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Thursday, June 18th. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, Clarkson Capital lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Okeanis Eco Tankers currently has a consensus rating of “Moderate Buy” and an average price target of $51.89.

Okeanis Eco Tankers Stock Performance

NYSE ECO opened at $53.67 on Wednesday. The company’s 50 day simple moving average is $52.62 and its two-hundred day simple moving average is $47.02. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.70 and a quick ratio of 1.56. Okeanis Eco Tankers Corp. has a 1 year low of $22.38 and a 1 year high of $58.45. The stock has a market capitalization of $2.10 billion, a PE ratio of 9.48 and a beta of -0.07.

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

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 28th were given a dividend of $2.00 per share. The ex-dividend date 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 14.9%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 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.