Okeanis Eco Tankers Corp. (NYSE:ECO) Receives $43.35 Consensus Target Price from Analysts

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have earned an average rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $43.35.

ECO has been the topic of several research reports. Clarkson Capital raised Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price target on the stock in a report on Tuesday, January 27th. B. Riley Financial lifted their price objective 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. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 29th. 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, Weiss Ratings cut shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 25th.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several institutional investors and hedge funds have recently added to or reduced their stakes in ECO. Goldman Sachs Group Inc. grew its position in Okeanis Eco Tankers by 56.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company’s stock worth $3,328,000 after purchasing an additional 54,528 shares in the last quarter. Invesco Ltd. bought a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at $613,000. Lighthouse Investment Partners LLC raised its holdings in shares of Okeanis Eco Tankers by 13.5% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 46,816 shares of the company’s stock valued at $1,017,000 after purchasing an additional 5,558 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at $25,000. Finally, Semmax Financial Advisors Inc. raised its holdings in shares of Okeanis Eco Tankers by 8.2% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 132,545 shares of the company’s stock valued at $2,880,000 after purchasing an additional 10,016 shares in the last quarter.

Okeanis Eco Tankers Stock Performance

ECO opened at $49.65 on Tuesday. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 13.27 and a beta of -0.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 1.39. Okeanis Eco Tankers has a 1-year low of $20.94 and a 1-year high of $57.29. The business has a 50 day moving average price of $48.17 and a two-hundred day moving average price of $39.59.

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

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, March 3rd were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 12.5%. The ex-dividend date was Tuesday, March 3rd. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. Okeanis Eco Tankers’s dividend payout ratio is presently 165.78%.

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.