Okeanis Eco Tankers Corp. (NYSE:ECO) Receives $43.35 Average Price Target from Analysts

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $43.35.

ECO has been the subject of several research reports. Clarkson Capital upgraded shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price target for the company in a research note on Tuesday, January 27th. B. Riley Financial lifted their target price on Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 20th. Wall Street Zen upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. UBS Group lowered Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Monday, December 29th.

Okeanis Eco Tankers Trading Down 0.3%

Shares of ECO opened at $52.67 on Monday. The company’s 50-day simple moving average is $39.17 and its 200-day simple moving average is $34.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.41 and a quick ratio of 3.16. Okeanis Eco Tankers has a 1 year low of $17.91 and a 1 year high of $52.96.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.48. The firm had revenue of $91.33 million for the quarter, compared to the consensus estimate of $98.45 million. Okeanis Eco Tankers had a net margin of 31.40% and a return on equity of 26.63%. On average, research analysts forecast that Okeanis Eco Tankers will post 1.34 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, March 3rd will be issued a dividend of $1.55 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. The ex-dividend date is Tuesday, March 3rd. This represents a $6.20 annualized dividend and a yield of 11.8%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 80.21%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Institutional investors have recently modified their holdings of the company. Quarry LP acquired a new position in shares of Okeanis Eco Tankers during the third quarter worth $29,000. BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth about $25,000. Verition Fund Management LLC increased its holdings in shares of Okeanis Eco Tankers by 22.1% in the 4th quarter. Verition Fund Management LLC now owns 8,784 shares of the company’s stock valued at $297,000 after acquiring an additional 1,591 shares during the last quarter. State of Wyoming raised its position in shares of Okeanis Eco Tankers by 58.6% during the 3rd quarter. State of Wyoming now owns 7,825 shares of the company’s stock worth $229,000 after acquiring an additional 2,890 shares in the last quarter. Finally, Lighthouse Investment Partners LLC raised its position in shares of Okeanis Eco Tankers by 11.0% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 51,965 shares of the company’s stock worth $1,521,000 after acquiring an additional 5,149 shares in the last quarter.

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.