Okeanis Eco Tankers (NYSE:ECO) Upgraded at Clarkson Capital

Clarkson Capital upgraded shares of Okeanis Eco Tankers (NYSE:ECO) from a neutral rating to a buy rating in a research note released on Tuesday morning, MarketBeat reports. Clarkson Capital currently has $46.05 price objective on the stock.

ECO has been the topic of several other reports. UBS Group lowered shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. B. Riley boosted their price target on Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Monday, December 29th. Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Wall Street Zen raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.02.

Okeanis Eco Tankers Trading Down 0.3%

Shares of ECO stock opened at $40.18 on Tuesday. The business’s fifty day moving average price is $36.38 and its 200 day moving average price is $31.55. The firm has a market capitalization of $1.30 billion, a PE ratio of 16.81 and a beta of 0.05. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.00 and a quick ratio of 1.69. Okeanis Eco Tankers has a 1-year low of $17.91 and a 1-year high of $41.31.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Thursday, November 13th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.48. Okeanis Eco Tankers had a return on equity of 18.05% and a net margin of 21.92%.The company had revenue of $90.60 million during the quarter, compared to the consensus estimate of $51.29 million. As a group, sell-side analysts forecast that Okeanis Eco Tankers will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd were given a dividend of $0.75 per share. The ex-dividend date was Tuesday, December 2nd. This represents a $3.00 dividend on an annualized basis and a yield of 7.5%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 125.52%.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in shares of Okeanis Eco Tankers by 108.2% during the second quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock valued at $9,144,000 after buying an additional 218,717 shares during the period. UBS Group AG grew its stake in Okeanis Eco Tankers by 1,616.5% in the 4th quarter. UBS Group AG now owns 63,065 shares of the company’s stock worth $2,134,000 after acquiring an additional 59,391 shares during the period. Goldman Sachs Group Inc. raised its holdings in Okeanis Eco Tankers by 56.8% in 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 last quarter. Two Sigma Investments LP lifted its stake in shares of Okeanis Eco Tankers by 517.5% during the 3rd quarter. Two Sigma Investments LP now owns 58,678 shares of the company’s stock worth $1,718,000 after purchasing an additional 49,176 shares during the period. Finally, Militia Capital Partners LP purchased a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth $1,024,000.

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.