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

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have been assigned a consensus recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $59.5167.

Several research analysts have issued reports on the company. 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 report on Monday, May 25th. Zacks Research lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen cut Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Clarkson Capital lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Finally, B. Riley Financial boosted their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 15th.

Institutional Trading of Okeanis Eco Tankers

Hedge funds have recently bought and sold shares of the company. Militia Capital Management LLC acquired a new position in shares of Okeanis Eco Tankers in the first quarter worth about $3,541,000. Bank of America Corp DE increased its position in shares of 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 worth $14,079,000 after acquiring an additional 136,782 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Okeanis Eco Tankers by 29,762.5% during the first quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock valued at $121,000 after acquiring an additional 2,381 shares during the period. Energy Income Partners LLC raised its holdings in shares of Okeanis Eco Tankers by 3.4% during the first quarter. Energy Income Partners LLC now owns 69,118 shares of the company’s stock valued at $3,497,000 after acquiring an additional 2,250 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Okeanis Eco Tankers in the 1st quarter valued at approximately $778,000.

Okeanis Eco Tankers Stock Down 1.1%

NYSE ECO opened at $56.45 on Thursday. 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 company’s 50 day simple moving average is $52.58 and its 200 day simple moving average is $48.71. Okeanis Eco Tankers has a 12 month low of $23.34 and a 12 month high of $58.45. The company has a market capitalization of $2.20 billion, a P/E ratio of 9.97 and a beta of -0.07.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.74 by $0.59. The business had revenue of $170.16 million during the quarter, compared to analyst estimates of $134.02 million. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. Equities research analysts expect that Okeanis Eco Tankers will post 9.53 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 28th were paid a $2.00 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 14.2%. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 141.34%.

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.