Okeanis Eco Tankers (NYSE:ECO) Reaches New 1-Year High – Here’s Why

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $33.32 and last traded at $33.26, with a volume of 124926 shares traded. The stock had previously closed at $32.50.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Zacks Research lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Okeanis Eco Tankers in a report on Wednesday, October 8th. Finally, Jefferies Financial Group began coverage on Okeanis Eco Tankers in a report on Wednesday, July 23rd. They set a “buy” rating and a $29.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Okeanis Eco Tankers Stock Performance

The stock has a market capitalization of $1.07 billion, a P/E ratio of 15.91 and a beta of -0.05. The company has a 50 day simple moving average of $29.08 and a 200-day simple moving average of $25.32. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.96 and a quick ratio of 1.65.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Tuesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.37. The firm had revenue of $93.95 million for the quarter, compared to analyst estimates of $56.10 million. Okeanis Eco Tankers had a return on equity of 15.81% and a net margin of 19.52%. On average, equities analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date was Friday, August 22nd. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.32. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 133.97%.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of ECO. SG Americas Securities LLC boosted its holdings in shares of Okeanis Eco Tankers by 108.2% in the 2nd quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock worth $9,144,000 after purchasing an additional 218,717 shares in the last quarter. Semmax Financial Advisors Inc. boosted its holdings in Okeanis Eco Tankers by 210.9% during the 1st quarter. Semmax Financial Advisors Inc. now owns 122,529 shares of the company’s stock valued at $2,906,000 after acquiring an additional 83,122 shares during the period. Goldman Sachs Group Inc. boosted its holdings 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 valued at $3,328,000 after acquiring an additional 54,528 shares during the period. Invesco Ltd. purchased a new stake in Okeanis Eco Tankers during the 2nd quarter valued at about $613,000. Finally, Energy Income Partners LLC boosted its holdings in Okeanis Eco Tankers by 84.6% during the 1st quarter. Energy Income Partners LLC now owns 51,189 shares of the company’s stock valued at $1,131,000 after acquiring an additional 23,452 shares during the period.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.