Okeanis Eco Tankers (NYSE:ECO) Upgraded at Clarkson Capital

Okeanis Eco Tankers (NYSE:ECO) was upgraded by analysts at Clarkson Capital from a “neutral” rating to a “buy” rating in a report issued on Tuesday,Finviz reports. The brokerage currently has a $46.05 price target on the stock. Clarkson Capital’s target price would suggest a potential upside of 19.12% from the company’s current price.

A number of other analysts also recently issued reports on the company. UBS Group downgraded Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Monday, December 29th. Wall Street Zen raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, B. Riley boosted their price objective on shares of Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Okeanis Eco Tankers presently has an average rating of “Moderate Buy” and a consensus price target of $40.02.

Okeanis Eco Tankers Stock Up 1.8%

ECO stock opened at $38.66 on Tuesday. Okeanis Eco Tankers has a fifty-two week low of $17.91 and a fifty-two week high of $41.31. The company’s 50 day moving average price is $36.24 and its 200 day moving average price is $31.31. 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 firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 16.18 and a beta of 0.05.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.77 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 analysts’ expectations of $51.29 million. On average, equities research analysts anticipate that Okeanis Eco Tankers will post 1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of hedge funds have recently modified their holdings of ECO. Goldman Sachs Group Inc. increased its holdings in shares of Okeanis Eco Tankers by 56.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company’s stock valued at $3,328,000 after acquiring an additional 54,528 shares during the period. SG Americas Securities LLC grew its position in Okeanis Eco Tankers by 108.2% during the 2nd quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock worth $9,144,000 after purchasing an additional 218,717 shares during the last quarter. Invesco Ltd. acquired a new position in Okeanis Eco Tankers in the second quarter valued at $613,000. Lighthouse Investment Partners LLC raised its holdings in shares of Okeanis Eco Tankers by 13.5% in the second quarter. Lighthouse Investment Partners LLC now owns 46,816 shares of the company’s stock valued at $1,017,000 after buying an additional 5,558 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Okeanis Eco Tankers in the second quarter valued at about $25,000.

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.