Okeanis Eco Tankers (NYSE:ECO) Hits New 12-Month High – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $57.96 and last traded at $56.7420, with a volume of 11499 shares traded. The stock had previously closed at $56.65.

Analysts Set New Price Targets

A number of brokerages have issued reports on ECO. B. Riley Financial upped their target price on Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Weiss Ratings cut Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 25th. Clarkson Capital raised Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price for the company in a research report on Tuesday, January 27th. Finally, Wall Street Zen raised Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 29th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.35.

Okeanis Eco Tankers Stock Performance

The stock has a market capitalization of $2.17 billion, a P/E ratio of 14.85 and a beta of 0.09. The firm has a 50-day moving average of $50.72 and a 200 day moving average of $42.47. 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 (NYSE:ECO) last released its quarterly earnings data on Wednesday, February 18th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $91.33 million during the quarter, compared to analyst estimates of $98.45 million. Research analysts anticipate that Okeanis Eco Tankers Corp. will post 4.35 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, March 3rd were paid a dividend of $1.55 per share. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 annualized dividend and a yield of 11.2%. The ex-dividend date was Tuesday, March 3rd. Okeanis Eco Tankers’s dividend payout ratio is currently 165.78%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter worth approximately $25,000. Fifth Third Bancorp acquired a new position in shares of Okeanis Eco Tankers in the 1st quarter worth approximately $29,000. Quarry LP acquired a new position in shares of Okeanis Eco Tankers in the 3rd quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Okeanis Eco Tankers by 102.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after buying an additional 532 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Okeanis Eco Tankers in the second quarter valued at $107,000.

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.