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

Wall Street Zen upgraded shares of Okeanis Eco Tankers (NYSE:ECO) from a buy rating to a strong-buy rating in a report released on Sunday.

A number of other equities analysts have also issued reports on the stock. B. Riley Financial boosted their target price on shares of Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Weiss Ratings downgraded shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 25th. Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Finally, Clarkson Capital upgraded shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price objective on the stock in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.35.

Okeanis Eco Tankers Price Performance

Shares of NYSE:ECO opened at $50.77 on Friday. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 13.57 and a beta of -0.29. The business has a 50 day moving average price of $45.53 and a 200 day moving average price of $38.00. The company has a quick ratio of 1.39, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. Okeanis Eco Tankers has a twelve month low of $17.91 and a twelve month high of $57.29.

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

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd were given a dividend of $1.55 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date was Tuesday, March 3rd. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 165.78%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Militia Capital Partners LP bought a new stake in Okeanis Eco Tankers in the 3rd quarter valued at $1,024,000. SG Americas Securities LLC lifted its holdings in shares of Okeanis Eco Tankers by 5.4% during the 3rd quarter. SG Americas Securities LLC now owns 443,695 shares of the company’s stock worth $12,987,000 after acquiring an additional 22,906 shares during the period. Quantbot Technologies LP bought a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth about $344,000. Centiva Capital LP acquired a new stake in shares of Okeanis Eco Tankers during the 3rd quarter valued at about $259,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Okeanis Eco Tankers by 102.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after acquiring an additional 532 shares in the last quarter.

Okeanis Eco Tankers Company Profile

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.