Okeanis Eco Tankers (NYSE:ECO) Lowered to Hold Rating by Clarkson Capital

Clarkson Capital lowered shares of Okeanis Eco Tankers (NYSE:ECO) from a strong-buy rating to a hold rating in a report released on Friday morning,Zacks.com reports.

ECO has been the topic of a number of other reports. 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. Wall Street Zen cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, B. Riley Financial lifted their price target on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Okeanis Eco Tankers currently has an average rating of “Hold” and an average price target of $50.02.

Okeanis Eco Tankers Price Performance

Shares of ECO stock opened at $55.03 on Friday. Okeanis Eco Tankers has a 52-week low of $21.27 and a 52-week high of $58.45. The stock has a market cap of $2.15 billion, a PE ratio of 9.72 and a beta of 0.09. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.39 and a current ratio of 1.70. The firm’s 50 day moving average price is $50.86 and its two-hundred day moving average price is $42.86.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. The firm had revenue of $170.17 million for the quarter, compared to analysts’ expectations of $134.02 million. As a group, analysts forecast that Okeanis Eco Tankers will post 4.35 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Thursday, May 28th will be given a dividend of $2.00 per share. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 dividend on an annualized basis and a dividend yield of 14.5%. The ex-dividend date of this dividend is Thursday, May 28th. Okeanis Eco Tankers’s payout ratio is 165.78%.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in ECO. Militia Capital Partners LP bought a new stake in Okeanis Eco Tankers in the 3rd quarter valued at $1,024,000. Navellier & Associates Inc. bought a new stake in Okeanis Eco Tankers in the 4th quarter valued at $631,000. Quantbot Technologies LP bought a new stake in Okeanis Eco Tankers in the 3rd quarter valued at $344,000. State of Wyoming lifted its position in Okeanis Eco Tankers by 58.6% in the 3rd quarter. State of Wyoming now owns 7,825 shares of the company’s stock valued at $229,000 after acquiring an additional 2,890 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Okeanis Eco Tankers in the 1st quarter valued at $778,000.

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.