Okeanis Eco Tankers (NYSE:ECO) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Okeanis Eco Tankers (NYSE:ECO) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other research firms have also weighed in on ECO. Weiss Ratings lowered shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 25th. Wall Street Zen lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, B. Riley Financial boosted their target price on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.02.

Okeanis Eco Tankers Trading Up 4.3%

ECO opened at $56.71 on Tuesday. Okeanis Eco Tankers has a fifty-two week low of $21.27 and a fifty-two week high of $58.45. 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 firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 10.02 and a beta of 0.09. The company’s 50 day moving average price is $51.30 and its two-hundred day moving average price is $43.39.

Okeanis Eco Tankers (NYSE:ECO) last posted its earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. The firm had revenue of $170.17 million for the quarter, compared to analyst estimates of $134.02 million. As a group, research analysts predict that Okeanis Eco Tankers will post 9.53 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Thursday, May 28th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 14.1%. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s payout ratio is currently 109.54%.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of Okeanis Eco Tankers by 96.7% in the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after purchasing an additional 136,782 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Okeanis Eco Tankers by 29,762.5% in the 1st quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock valued at $121,000 after purchasing an additional 2,381 shares during the last quarter. Energy Income Partners LLC boosted its stake in shares of Okeanis Eco Tankers by 3.4% in the 1st quarter. Energy Income Partners LLC now owns 69,118 shares of the company’s stock valued at $3,497,000 after purchasing an additional 2,250 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Okeanis Eco Tankers in the 1st quarter valued at $778,000. Finally, Walleye Capital LLC boosted its stake in shares of Okeanis Eco Tankers by 71.9% in the 1st quarter. Walleye Capital LLC now owns 177,417 shares of the company’s stock valued at $8,976,000 after purchasing an additional 74,231 shares during the last quarter.

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.