Okeanis Eco Tankers Corp. (NYSE:ECO) Given Average Rating of “Moderate Buy” by Brokerages

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

A number of research analysts have commented on the company. Clarkson Capital cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Pareto Securities cut Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target on the stock. in a research note on Monday, May 25th. Weiss Ratings cut Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 25th. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Finally, Wall Street Zen cut Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th.

Okeanis Eco Tankers Stock Down 0.7%

NYSE:ECO opened at $48.26 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.70 and a debt-to-equity ratio of 0.75. The stock’s fifty day moving average is $52.12 and its two-hundred day moving average is $44.37. Okeanis Eco Tankers has a 52 week low of $21.27 and a 52 week high of $58.45. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 8.53 and a beta of -0.05.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The company had revenue of $170.17 million for the quarter, compared to analysts’ expectations of $134.02 million. Research analysts anticipate that Okeanis Eco Tankers will post 9.53 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The business 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 is Thursday, May 28th. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 annualized dividend and a dividend yield of 16.6%. Okeanis Eco Tankers’s payout ratio is 141.34%.

Institutional Trading of Okeanis Eco Tankers

Several hedge funds have recently modified their holdings of ECO. Encompass Capital Advisors LLC purchased a new position in Okeanis Eco Tankers in the fourth quarter valued at $27,416,000. Fearnley Asset Management AS purchased a new position in Okeanis Eco Tankers in the fourth quarter valued at $18,696,000. Marshall Wace LLP purchased a new position in Okeanis Eco Tankers in the fourth quarter valued at $10,911,000. JPMorgan Chase & Co. purchased a new position in Okeanis Eco Tankers in the fourth quarter valued at $5,222,000. Finally, Bank of America Corp DE increased its holdings in Okeanis Eco Tankers by 96.7% in the first quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after buying an additional 136,782 shares during 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.