Okeanis Eco Tankers (NYSE:ECO) Stock Price Down 4.1% – Time to Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares were down 4.1% during mid-day trading on Wednesday . The stock traded as low as $48.35 and last traded at $48.5650. Approximately 426,043 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 505,944 shares. The stock had previously closed at $50.62.

Analyst Ratings Changes

Several analysts have recently commented on ECO shares. Wall Street Zen cut Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st. Clarkson Capital upgraded shares of 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, January 27th. Weiss Ratings lowered shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Finally, B. Riley Financial upped their target price on shares of Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Okeanis Eco Tankers presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.35.

Okeanis Eco Tankers Stock Up 1.9%

The firm’s 50 day moving average price is $44.88 and its 200-day moving average price is $37.42. The company has a current ratio of 1.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.82. The company has a market cap of $1.95 billion, a P/E ratio of 13.35 and a beta of -0.29.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.48. Okeanis Eco Tankers had a net margin of 31.40% and a return on equity of 26.63%. The business had revenue of $91.33 million during the quarter, compared to the consensus estimate of $98.45 million. As a group, equities research analysts expect that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd were paid a $1.55 dividend. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $6.20 dividend on an annualized basis and a dividend yield of 12.4%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 165.78%.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECO. BNP Paribas Financial Markets bought a new position in Okeanis Eco Tankers during the second quarter worth about $25,000. Quarry LP bought a new stake in shares of Okeanis Eco Tankers in the 3rd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd raised its position in shares of Okeanis Eco Tankers by 102.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after acquiring an additional 532 shares during the period. State of Wyoming acquired a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at approximately $107,000. Finally, Verition Fund Management LLC bought a new position in Okeanis Eco Tankers during the 3rd quarter worth approximately $211,000.

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.