Okeanis Eco Tankers (NYSE:ECO) Sets New 1-Year High – What’s Next?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) reached a new 52-week high during trading on Thursday . The company traded as high as $66.79 and last traded at $66.08, with a volume of 287499 shares changing hands. The stock had previously closed at $62.28.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ECO. Clarkson Capital downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings downgraded shares of Okeanis Eco Tankers from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. B. Riley Financial raised their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Pareto Securities cut shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective on the stock. in a research report on Monday, May 25th. Finally, Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.52.

Okeanis Eco Tankers Trading Up 5.9%

The business’s 50-day simple moving average is $57.57 and its 200-day simple moving average is $52.76. The company has a market cap of $2.58 billion, a PE ratio of 6.13 and a beta of -0.15. The company has a current ratio of 4.43, a quick ratio of 4.13 and a debt-to-equity ratio of 0.76.

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

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 31.8%. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, August 14th. 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 company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $59.99, for a total value of $4,104,515.80. Following the transaction, the director directly owned 1,347,038 shares of the company’s stock, valued at $80,808,809.62. This represents a 4.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several large investors have recently made changes to their positions in ECO. BNP Paribas Financial Markets bought a new position in Okeanis Eco Tankers during the second quarter valued at approximately $25,000. Fifth Third Bancorp bought a new stake in Okeanis Eco Tankers in the first quarter worth approximately $29,000. Quarry LP acquired a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Okeanis Eco Tankers by 102.3% during 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 during the last quarter. Finally, State of Wyoming bought a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at $107,000.

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.