Okeanis Eco Tankers (NYSE:ECO) Hits New 12-Month High – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO) hit a new 52-week high on Monday . The stock traded as high as $57.29 and last traded at $54.7660, with a volume of 572665 shares traded. The stock had previously closed at $54.05.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. UBS Group downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. B. Riley Financial raised their price objective 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. Finally, Clarkson Capital raised Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price on the stock in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.35.

Okeanis Eco Tankers Trading Down 6.7%

The company has a quick ratio of 3.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average of $40.74 and a 200-day moving average of $35.09.

Okeanis Eco Tankers (NYSE:ECO) last posted its earnings results on Wednesday, February 18th. The company reported $1.78 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $98.45 million. As a group, equities research analysts predict that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 12.1%. The ex-dividend date of this dividend 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 presently 80.21%.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Okeanis Eco Tankers by 108.2% in the 2nd quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock worth $9,144,000 after buying an additional 218,717 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Okeanis Eco Tankers during the fourth quarter worth $5,222,000. LPL Financial LLC purchased a new stake in shares of Okeanis Eco Tankers during the 4th quarter valued at $343,000. Kovack Advisors Inc. acquired a new stake in shares of Okeanis Eco Tankers in the 4th quarter worth $636,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Okeanis Eco Tankers during the 4th quarter worth $3,390,000.

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.