Citigroup Inc. Trims Position in Okeanis Eco Tankers Corp. $ECO

Citigroup Inc. lowered its position in shares of Okeanis Eco Tankers Corp. (NYSE:ECO) by 52.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,174 shares of the company’s stock after selling 80,878 shares during the quarter. Citigroup Inc. owned approximately 0.23% of Okeanis Eco Tankers worth $2,142,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently 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 worth $25,000. State of Wyoming purchased a new stake in shares of Okeanis Eco Tankers in the second quarter valued at $107,000. S.E.E.D. Planning Group LLC purchased a new stake in shares of Okeanis Eco Tankers in the third quarter valued at $234,000. Invesco Ltd. acquired a new position in Okeanis Eco Tankers in the second quarter valued at $613,000. Finally, Lighthouse Investment Partners LLC lifted its position in Okeanis Eco Tankers by 13.5% during the second quarter. Lighthouse Investment Partners LLC now owns 46,816 shares of the company’s stock worth $1,017,000 after buying an additional 5,558 shares during the period.

Okeanis Eco Tankers Stock Performance

Shares of Okeanis Eco Tankers stock opened at $47.51 on Friday. The business’s fifty day moving average price is $41.71 and its 200 day moving average price is $35.51. Okeanis Eco Tankers Corp. has a twelve month low of $17.91 and a twelve month high of $57.29. The company has a current ratio of 3.41, a quick ratio of 3.16 and a debt-to-equity ratio of 0.97.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.30 by $0.48. The company had revenue of $91.33 million during the quarter, compared to analyst estimates of $98.45 million. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%. As a group, equities analysts expect that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, March 3rd will be issued a $1.55 dividend. The ex-dividend date is Tuesday, March 3rd. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 annualized dividend and a yield of 13.1%. Okeanis Eco Tankers’s payout ratio is 165.78%.

Wall Street Analyst Weigh In

ECO has been the topic of a number of research analyst reports. B. Riley Financial raised their price target on Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. UBS Group downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Finally, Clarkson Capital raised shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price target for the company in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.35.

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.