Okeanis Eco Tankers (NYSE:ECO) Sees Large Volume Increase – What’s Next?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) saw unusually-high trading volume on Monday . Approximately 345,080 shares traded hands during trading, a decline of 33% from the previous session’s volume of 514,283 shares.The stock last traded at $50.6160 and had previously closed at $51.75.

Wall Street Analyst Weigh In

ECO has been the topic of a number of recent analyst reports. Clarkson Capital upgraded shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price on the stock in a research note on Tuesday, January 27th. Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Weiss Ratings cut shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 25th. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 29th. Finally, B. Riley Financial raised their target price on shares of Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Okeanis Eco Tankers has an average rating of “Moderate Buy” and a consensus target price of $43.35.

Okeanis Eco Tankers Stock Performance

The stock has a market cap of $1.95 billion, a P/E ratio of 13.37 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. The firm’s 50-day moving average price is $46.80 and its 200-day moving average price is $38.74.

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

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd were given a dividend of $1.55 per share. The ex-dividend date was Tuesday, March 3rd. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 annualized dividend and a dividend yield of 12.4%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 165.78%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new stake in shares of Okeanis Eco Tankers during the second quarter valued at approximately $25,000. Quarry LP purchased a new position in shares of Okeanis Eco Tankers in the third quarter valued at $29,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Okeanis Eco Tankers by 102.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after purchasing an additional 532 shares in the last quarter. State of Wyoming purchased a new position in shares of Okeanis Eco Tankers in the second quarter valued at $107,000. Finally, Verition Fund Management LLC purchased a new position in shares of Okeanis Eco Tankers in the third quarter valued at $211,000.

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.