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

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $40.0167.

ECO has been the topic of a number of recent research reports. Wall Street Zen raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. UBS Group lowered shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Monday, December 29th. Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Clarkson Capital raised Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price target on the stock in a research report on Tuesday.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in Okeanis Eco Tankers during the second quarter worth about $25,000. Quarry LP bought a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $29,000. State of Wyoming bought a new stake in shares of Okeanis Eco Tankers during the 2nd quarter worth approximately $107,000. Verition Fund Management LLC acquired a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $211,000. Finally, S.E.E.D. Planning Group LLC bought a new position in Okeanis Eco Tankers in the third quarter valued at approximately $234,000.

Okeanis Eco Tankers Stock Performance

ECO opened at $40.30 on Thursday. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.00 and a quick ratio of 1.69. The business has a fifty day simple moving average of $36.31 and a 200 day simple moving average of $31.49. Okeanis Eco Tankers has a 1 year low of $17.91 and a 1 year high of $41.31. The company has a market capitalization of $1.27 billion, a PE ratio of 16.86 and a beta of 0.05.

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

Okeanis Eco Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, December 2nd were issued a dividend of $0.75 per share. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $3.00 annualized dividend and a dividend yield of 7.4%. Okeanis Eco Tankers’s payout ratio is currently 125.52%.

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.