Okeanis Eco Tankers Corp. (NYSE:ECO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Okeanis Eco Tankers Corp. (NYSE:ECO) has earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $51.8875.

ECO has been the subject of several analyst reports. Wall Street Zen lowered Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Clarkson Capital downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Pareto Securities lowered Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price on the stock. in a research report on Monday, May 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Thursday, June 18th. Finally, B. Riley Financial lifted their target price 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.

Okeanis Eco Tankers Stock Performance

Shares of Okeanis Eco Tankers stock opened at $53.25 on Friday. The company has a market capitalization of $2.08 billion, a PE ratio of 9.41 and a beta of -0.07. The company has a 50-day simple moving average of $52.50 and a two-hundred day simple moving average of $46.64. Okeanis Eco Tankers has a one year low of $22.38 and a one year high of $58.45. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $170.16 million during the quarter, compared to the consensus estimate of $134.02 million. Research analysts expect that Okeanis Eco Tankers will post 9.53 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 28th were paid a $2.00 dividend. The ex-dividend date was Thursday, May 28th. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 dividend on an annualized basis and a dividend yield of 15.0%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 141.34%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in shares of Okeanis Eco Tankers in the second quarter valued at about $25,000. Fifth Third Bancorp purchased a new stake in shares of Okeanis Eco Tankers in the 1st quarter valued at approximately $29,000. Quarry LP acquired a new position in Okeanis Eco Tankers during the third quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its stake in 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 acquiring an additional 532 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Okeanis Eco Tankers during the second quarter worth about $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.