Ultra-High-Yielding Okeanis Eco Tankers Stock Hits Record High
February 11, 2026
Okeanis Eco Tankers Corp Reports Strong Q3
Geopolitical tensions have juiced energy prices, but West Texas Intermediate is still trading at around just $65.00 per barrel. That said, demand for crude oil remains strong, with global demand set to remain above 100 million barrels per day through 2040. (Source: “ADNOC Expects Oil Demand to Stay Above 100 Million Barrels a Day Through 2040,” OilPrice, January 27, 2026.)
Despite the energy transition away from crude oil and liquefied natural gas (LNG), they’re still going to be needed to generate electricity to fuel artificial intelligence (AI), data centers, and emerging markets. Not every country is floating on oil and gas; instead, they need to import it. And that’s great news for oil and gas marine shipping companies like Okeanis Eco Tankers Corp (NYSE:ECO).
Okeanis is an international shipping company that operates in the crude oil industry. Its fleet currently consists of 14 tanker vessels, including six modern Suezmax and eight modern Very Large Crude Carrier (VLCC) tankers. (Source: “Pareto Securities’ 32nd Annual Energy Conference,” Okeanis Eco Tankers Corp, September 11, 2025.)
The company’s 14 vessels have an average age of six years and aggregate capacity of approximately 3.5 million deadweight tons. Okeanis is home to one of the youngest fleets in a potentially shrinking global fleet and also has one of the highest scrubber penetration rates. A scrubber is an exhaust cleaning system that removes harmful substances, including sulfur oxide and nitrogen oxide from exhaust emitted by vessels.
Because of marine regulations, companies need to either use expensive fuel with low sulfur content or install a clean exhaust scrubbing system. Okeanis Eco Tankers’ very name suggests it went with the eco scrubbing systems.
Another Earnings Beat?
Wall Street seems to really underestimate Okeanis’ earnings power. The company has reported earnings beats for the last four quarters. In the third quarter, it reported adjusted net income of $24.7 million, or $0.77 per share. Wall Street was looking for earnings per share of just $0.35., (Source: “Unaudited Condensed Financial Statements for the Third Quarter and Nine-Month Period of 2025,” Okeanis Eco Tankers Corp, November 12, 2025.)
Okeanis Eco Tankers’ third-quarter revenue climbed 6.7% on an annual basis to $90.6 million. Net income was up 66% at $24.1 million, or $0.75 per share. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at $45.2 million.
During the quarter, the fleetwide daily time charter equivalent (TCE) rate per operating day was $46,600. VLCC TCE rates were $45,500 per day, while Suezmax TCE rates per operating day was $48,200. Daily operating expenses per vessel were $10,014.
Looking ahead, at the time of reporting its third-quarter results, 80% of Okeanis’ fourth-quarter VLCC spot days were booked at an average TCE rate of $88,100 per day, and 48% of the available Suezmax spot days were booked at an average TCE rate of $60,800 per day.
The company ended the quarter with cash of $58.2 million, up from $56.0 million a year earlier.
Q3 Payout Jumps 66% to $0.75/Share
Okeanis Eco Tankers’ quarterly distribution varies, because the payout is based on its adjusted earnings. And it aims to distribute approximately 90% of its earnings every quarter.
In December 2025, the company’s board paid out a third-quarter dividend of $0.75 per share. That’s up seven percent from the $0.70 paid out in the second quarter of 2025 and 66% from the third-quarter 2024 payout of $0.45 per share.
This works out to an annual payout of $3.00 per share, for a forward annual dividend yield of approximately 7.5%.
ECO Stock Hits Record High
Admittedly, a dividend yield of 7.5% is a little lower than what we usually look for at Income Investors. That’s unless it’s tied to a stock that doing really well. And right now, ECO stock still is thumping the broader markets.
In fact, on January 14, ECO hit a record high of $41.31 per share. It continues to trade near that level, at $40.60 per share. This puts the stock up:
- 27% over the last month
- 81% over the last six months
- 20% year to date
- 82% on an annual basis
Despite the massive moves, conservative Wall Street sees ECO hitting fresh highs over the coming quarters, with a median price target of $45.00. This points to potential upside of 11.2%.
Chart courtesy of StockCharts.com
The Lowdown on Okeanis Eco Tankers Corp
Okeanis Eco Tankers Corp is a great marine shipping stock with one of the youngest, best-performing crude tanker fleets. The company has a strong balance sheet and is reporting solid financial results, including robust TCE rates.
These dynamics are expected to continue with strong demand for crude oil extending out to at least 2040. This bodes well for both ECO stock and its high-yield dividend.
This is good news for insiders that collectively own 53.12% of all outstanding shares. Institutions hold 15.83% of all outstanding shares. Some of the top holders include QVT Financial LP, Goldman Sachs Group Inc, and Citigroup Inc. (Source: “Holders,” Yahoo! Finance, last accessed February 2, 2026.)
