Okeanis Eco Tankers (NYSE:ECO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Okeanis Eco Tankers (NYSE:ECO) from a hold rating to a strong-buy rating in a research note issued to investors on Saturday morning.

A number of other analysts have also recently weighed in on the stock. UBS Group cut shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday. B. Riley increased their target price on shares of Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Okeanis Eco Tankers in a report on Wednesday, October 8th. Jefferies Financial Group assumed coverage on Okeanis Eco Tankers in a research note on Wednesday, July 23rd. They set a “buy” rating and a $29.00 price objective for the company. Finally, Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.00.

Okeanis Eco Tankers Trading Up 1.3%

NYSE:ECO opened at $38.91 on Friday. The company has a market capitalization of $1.25 billion, a PE ratio of 18.62 and a beta of 0.01. Okeanis Eco Tankers has a 52-week low of $17.91 and a 52-week high of $39.77. The stock’s 50 day moving average price is $31.48 and its 200 day moving average price is $26.75. The company has a quick ratio of 1.65, a current ratio of 1.96 and a debt-to-equity ratio of 1.36.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.48. The company had revenue of $59.95 million during the quarter, compared to analysts’ expectations of $51.29 million. Okeanis Eco Tankers had a return on equity of 15.81% and a net margin of 19.52%. On average, research analysts anticipate that Okeanis Eco Tankers will post 1.34 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd will be issued a dividend of $0.75 per share. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Tuesday, December 2nd. Okeanis Eco Tankers’s dividend payout ratio is currently 125.52%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Okeanis Eco Tankers in the 3rd quarter valued at approximately $29,000. BNP Paribas Financial Markets purchased a new position in Okeanis Eco Tankers in the second quarter worth $25,000. State of Wyoming acquired a new stake in Okeanis Eco Tankers in the second quarter valued at $107,000. Verition Fund Management LLC acquired a new stake in Okeanis Eco Tankers in the third quarter valued at $211,000. Finally, S.E.E.D. Planning Group LLC purchased a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth $234,000.

About Okeanis Eco Tankers

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.