Okeanis Eco Tankers (NYSE:ECO) Reaches New 12-Month High – Still a Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $71.77 and last traded at $72.4370, with a volume of 370213 shares. The stock had previously closed at $71.43.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ECO shares. Pareto Securities cut shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price for the company. in a research note on Monday, May 25th. Clarkson Capital cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings cut Okeanis Eco Tankers from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 25th. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.52.

Okeanis Eco Tankers Stock Performance

The company has a debt-to-equity ratio of 0.76, a current ratio of 4.43 and a quick ratio of 4.13. The company has a market capitalization of $2.80 billion, a P/E ratio of 6.69 and a beta of -0.11. The company has a fifty day moving average price of $60.96 and a two-hundred day moving average price of $54.63.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $1.30. The firm had revenue of $268.14 million during the quarter, compared to the consensus estimate of $220.28 million. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%. Equities analysts forecast that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were given a $5.25 dividend. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, August 14th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 29.3%. Okeanis Eco Tankers’s dividend payout ratio is presently 195.90%.

Insiders Place Their Bets

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $59.99, for a total transaction of $4,104,515.80. Following the completion of the transaction, the director owned 1,347,038 shares in the company, valued at approximately $80,808,809.62. This trade represents a 4.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at $25,000. Fifth Third Bancorp bought a new position in shares of Okeanis Eco Tankers in the first quarter valued at approximately $29,000. Quarry LP purchased a new position in Okeanis Eco Tankers during the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd grew its position in Okeanis Eco Tankers by 102.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after purchasing an additional 532 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Okeanis Eco Tankers in the second quarter valued at approximately $107,000.

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.