Okeanis Eco Tankers (NYSE:ECO) Sets New 12-Month High – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $59.80 and last traded at $58.2550, with a volume of 280216 shares trading hands. The stock had previously closed at $58.35.

Analyst Ratings Changes

Several research firms have commented on ECO. Wall Street Zen cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Clarkson Capital downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. B. Riley Financial increased their price target on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Pareto Securities lowered 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. Finally, Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $59.52.

Okeanis Eco Tankers Trading Up 0.7%

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 firm has a fifty day simple moving average of $53.05 and a two-hundred day simple moving average of $49.76. The firm has a market capitalization of $2.35 billion, a P/E ratio of 10.65 and a beta of -0.07.

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

Okeanis Eco Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 28th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 13.3%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Thursday, May 28th. Okeanis Eco Tankers’s payout ratio is currently 141.34%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Encompass Capital Advisors LLC bought a new stake in shares of Okeanis Eco Tankers in the fourth quarter valued at approximately $27,416,000. Fearnley Asset Management AS purchased a new position in Okeanis Eco Tankers in the 4th quarter valued at approximately $18,696,000. Marshall Wace LLP purchased a new position in Okeanis Eco Tankers in the 4th quarter valued at approximately $10,911,000. JPMorgan Chase & Co. bought a new stake in Okeanis Eco Tankers during the 4th quarter valued at $5,222,000. Finally, Bank of America Corp DE lifted its position in shares of Okeanis Eco Tankers by 96.7% during 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.

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.