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

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $43.35.

A number of brokerages recently issued reports on ECO. B. Riley Financial upped their price target on shares of Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. UBS Group cut shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Clarkson Capital upgraded shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price objective for the company in a report on Tuesday, January 27th. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Monday, December 29th.

Okeanis Eco Tankers Price Performance

ECO stock opened at $53.86 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.16 and a current ratio of 3.41. The firm has a 50 day moving average price of $39.95 and a 200-day moving average price of $34.71. Okeanis Eco Tankers has a 52-week low of $17.91 and a 52-week high of $54.05. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 14.40 and a beta of 0.04.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.48. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%.The business had revenue of $91.33 million during the quarter, compared to analysts’ expectations of $98.45 million. Equities research analysts forecast that Okeanis Eco Tankers will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, March 3rd will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 11.5%. The ex-dividend date is Tuesday, March 3rd. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. Okeanis Eco Tankers’s dividend payout ratio is 165.78%.

Institutional Trading of Okeanis Eco Tankers

A number of large investors have recently made changes to their positions in ECO. SG Americas Securities LLC increased its position in Okeanis Eco Tankers by 108.2% during the second quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock valued at $9,144,000 after acquiring an additional 218,717 shares during the last quarter. Quarry LP bought a new position in Okeanis Eco Tankers in the third quarter valued at about $29,000. Millennium Management LLC purchased a new position in Okeanis Eco Tankers in the third quarter worth about $486,000. Lighthouse Investment Partners LLC grew its stake in shares of Okeanis Eco Tankers by 11.0% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 51,965 shares of the company’s stock valued at $1,521,000 after purchasing an additional 5,149 shares during the period. Finally, Citadel Advisors LLC purchased a new stake in shares of Okeanis Eco Tankers during the 3rd quarter valued at about $242,000.

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.