Arrowstreet Capital Limited Partnership Raises Stake in Okeanis Eco Tankers Corp. (NYSE:ECO)

Arrowstreet Capital Limited Partnership boosted its position in Okeanis Eco Tankers Corp. (NYSE:ECO - Free Report) by 70.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 507,495 shares of the company's stock after acquiring an additional 209,260 shares during the period. Arrowstreet Capital Limited Partnership owned 1.58% of Okeanis Eco Tankers worth $10,579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ECO. Boston Partners bought a new stake in shares of Okeanis Eco Tankers during the fourth quarter valued at about $1,231,000. Quadrature Capital Ltd bought a new stake in shares of Okeanis Eco Tankers during the third quarter valued at about $1,169,000. BNP Paribas Financial Markets increased its position in shares of Okeanis Eco Tankers by 409.9% during the third quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company's stock valued at $661,000 after buying an additional 16,280 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Okeanis Eco Tankers during the third quarter valued at about $383,000. Finally, Jane Street Group LLC bought a new stake in shares of Okeanis Eco Tankers during the third quarter valued at about $206,000.

Analyst Upgrades and Downgrades

Separately, B. Riley decreased their price target on Okeanis Eco Tankers from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th.

Okeanis Eco Tankers Price Performance

Shares of NYSE ECO traded down $0.40 during midday trading on Thursday, hitting $19.66. 38,645 shares of the company's stock were exchanged, compared to its average volume of 136,739. Okeanis Eco Tankers Corp. has a 12-month low of $17.91 and a 12-month high of $36.69. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 1.46. The company has a market cap of $632.93 million, a price-to-earnings ratio of 5.82 and a beta of 0.04. The business's fifty day moving average price is $22.23 and its two-hundred day moving average price is $24.26.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.22 by $0.19. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%. The company had revenue of $85.19 million during the quarter, compared to analyst estimates of $82.46 million. As a group, research analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 7.12%. The ex-dividend date was Monday, March 3rd. Okeanis Eco Tankers's dividend payout ratio is currently 41.42%.

Okeanis Eco Tankers Company 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.