Okeanis Eco Tankers Corp. (NYSE:ECO) Receives Consensus Rating of “Hold” from Analysts

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have been assigned a consensus rating of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $37.00.

ECO has been the topic of several recent analyst reports. Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Clarkson Capital raised Okeanis Eco Tankers to a “hold” rating in a report on Friday, November 14th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. B. Riley boosted their price objective on Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Finally, UBS Group lowered shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th.

Hedge Funds Weigh In On Okeanis Eco Tankers

Hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in Okeanis Eco Tankers in the third quarter worth approximately $29,000. BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at about $25,000. State of Wyoming lifted its stake in shares of Okeanis Eco Tankers by 58.6% in the third quarter. State of Wyoming now owns 7,825 shares of the company’s stock worth $229,000 after buying an additional 2,890 shares during the last quarter. Lighthouse Investment Partners LLC boosted its holdings in Okeanis Eco Tankers by 11.0% during the third quarter. Lighthouse Investment Partners LLC now owns 51,965 shares of the company’s stock valued at $1,521,000 after acquiring an additional 5,149 shares during the period. Finally, Verition Fund Management LLC bought a new position in shares of Okeanis Eco Tankers in the third quarter worth about $211,000.

Okeanis Eco Tankers Price Performance

ECO opened at $36.01 on Wednesday. The stock has a market capitalization of $1.16 billion, a PE ratio of 15.06 and a beta of -0.01. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.69 and a current ratio of 2.00. The company’s 50 day simple moving average is $33.83 and its 200 day simple moving average is $28.19. Okeanis Eco Tankers has a 1 year low of $17.91 and a 1 year high of $39.77.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.48. Okeanis Eco Tankers had a net margin of 21.92% and a return on equity of 18.05%. The company had revenue of $90.60 million during the quarter, compared to the consensus estimate of $51.29 million. As a group, sell-side analysts expect that Okeanis Eco Tankers will post 1.34 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $3.00 dividend on an annualized basis and a yield of 8.3%. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 125.52%.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.