Brokerages Set Okeanis Eco Tankers Corp. (NYSE:ECO) Price Target at $59.52

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have been given an average rating of “Hold” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $59.5167.

Several brokerages have recently commented on ECO. Zacks Research downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. B. Riley Financial lifted their price target on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Thursday, June 18th. Finally, 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.

Institutional Investors Weigh In On Okeanis Eco Tankers

Large investors have recently bought and sold shares of the business. Encompass Capital Advisors LLC bought a new position in Okeanis Eco Tankers in the 4th quarter valued at $27,416,000. FIL Ltd grew its holdings in shares of Okeanis Eco Tankers by 17.2% during the fourth quarter. FIL Ltd now owns 574,182 shares of the company’s stock worth $19,339,000 after purchasing an additional 84,130 shares during the last quarter. Fearnley Asset Management AS bought a new stake in shares of Okeanis Eco Tankers during the fourth quarter worth $18,696,000. Marshall Wace LLP bought a new stake in shares of Okeanis Eco Tankers during the fourth quarter worth $10,911,000. Finally, Bank of America Corp DE increased its stake in shares of Okeanis Eco Tankers by 96.7% in the first quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after buying an additional 136,782 shares in the last quarter.

Okeanis Eco Tankers Price Performance

Okeanis Eco Tankers stock opened at $57.87 on Thursday. The business has a 50 day simple moving average of $52.70 and a 200 day simple moving average of $48.96. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.70 and a quick ratio of 1.56. The company has a market capitalization of $2.26 billion, a PE ratio of 10.23 and a beta of -0.07. Okeanis Eco Tankers has a one year low of $23.34 and a one year high of $59.07.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The firm had revenue of $170.16 million for the quarter, compared to analysts’ expectations of $134.02 million. On average, sell-side analysts forecast that Okeanis Eco Tankers will post 9.53 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 28th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 13.8%. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. The ex-dividend date was Thursday, May 28th. Okeanis Eco Tankers’s dividend payout ratio is presently 141.34%.

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.