Okeanis Eco Tankers Corp. (NYSE:ECO) Increases Dividend to $5.25 Per Share

Okeanis Eco Tankers Corp. (NYSE:ECO) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Friday, August 14th will be paid a dividend of 5.25 per share on Friday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 34.5%. The ex-dividend date of this dividend is Friday, August 14th. This is a 162.5% increase from Okeanis Eco Tankers’s previous quarterly dividend of $2.00.

Okeanis Eco Tankers Price Performance

ECO stock traded up $1.72 during midday trading on Wednesday, reaching $60.95. 827,452 shares of the company’s stock traded hands, compared to its average volume of 481,831. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 10.77 and a beta of -0.15. The company has a 50-day simple moving average of $53.30 and a two-hundred day simple moving average of $50.12. The company has a quick ratio of 1.56, a current ratio of 1.70 and a debt-to-equity ratio of 0.75. Okeanis Eco Tankers has a 1-year low of $23.82 and a 1-year high of $63.67.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Tuesday, August 4th. The company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $4.61 by $1.30. The business had revenue of $268.14 million for the quarter, compared to analyst estimates of $220.28 million. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. On average, analysts anticipate that Okeanis Eco Tankers will post 9.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on ECO. Wall Street Zen lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. B. Riley Financial boosted their price objective on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Pareto Securities cut Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price on the stock. in a report on Monday, May 25th. Finally, Clarkson Capital cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $59.52.

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.