Okeanis Eco Tankers Corp. (NYSE:ECO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have been given an average rating of “Moderate Buy” by the six research firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $43.35.

ECO has been the topic of several analyst reports. Weiss Ratings cut Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 25th. Clarkson Capital upgraded Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price on the stock in a report on Tuesday, January 27th. B. Riley Financial upped their target price on Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 20th. Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Finally, Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 29th.

Okeanis Eco Tankers Stock Performance

Okeanis Eco Tankers stock opened at $54.51 on Friday. The business has a 50 day moving average of $50.71 and a 200-day moving average of $42.62. Okeanis Eco Tankers has a 1 year low of $21.27 and a 1 year high of $58.45. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 1.39. The company has a market capitalization of $2.13 billion, a P/E ratio of 14.58 and a beta of 0.09.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%.The business had revenue of $170.17 million for the quarter, compared to analysts’ expectations of $134.02 million. On average, equities research analysts predict that Okeanis Eco Tankers will post 4.35 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, March 3rd were issued a $1.55 dividend. The ex-dividend date was Tuesday, March 3rd. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 annualized dividend and a yield of 11.4%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 165.78%.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Wyoming boosted its holdings in shares of Okeanis Eco Tankers by 2.6% during the 1st quarter. State of Wyoming now owns 8,123 shares of the company’s stock worth $411,000 after buying an additional 202 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings 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 worth $36,000 after buying an additional 532 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of Okeanis Eco Tankers during the 1st quarter worth approximately $29,000. Quarry LP bought a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $29,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth approximately $25,000.

About Okeanis Eco Tankers

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.