Wells Fargo & Company MN Buys New Stake in Okeanis Eco Tankers Corp. (NYSE:ECO)

Wells Fargo & Company MN acquired a new position in Okeanis Eco Tankers Corp. (NYSE:ECO) in the 4th quarter, HoldingsChannel reports. The fund acquired 3,662 shares of the company’s stock, valued at approximately $78,000.

Other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in Okeanis Eco Tankers during the third quarter valued at approximately $206,000. Boston Partners purchased a new stake in shares of Okeanis Eco Tankers in the fourth quarter worth about $1,231,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Okeanis Eco Tankers by 70.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 507,495 shares of the company’s stock valued at $10,579,000 after buying an additional 209,260 shares in the last quarter.

Okeanis Eco Tankers Price Performance

Okeanis Eco Tankers stock opened at $24.19 on Tuesday. Okeanis Eco Tankers Corp. has a 12-month low of $17.91 and a 12-month high of $36.69. The stock has a market cap of $778.77 million, a P/E ratio of 7.16 and a beta of -0.05. The company has a 50-day moving average price of $21.92 and a 200 day moving average price of $22.55. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 1.46.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Wednesday, February 19th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.19. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.40%. The company had revenue of $85.19 million during the quarter, compared to analyst estimates of $82.46 million. Sell-side analysts anticipate that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 5.79%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 41.42%.

Wall Street Analyst Weigh In

Separately, B. Riley cut their price objective on Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th.

Okeanis Eco Tankers Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.