Okeanis Eco Tankers (NYSE:ECO) Trading Up 7.1% – Still a Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price traded up 7.1% on Thursday . The company traded as high as $54.00 and last traded at $53.51. 129,099 shares were traded during mid-day trading, a decline of 73% from the average session volume of 484,696 shares. The stock had previously closed at $49.94.

Analysts Set New Price Targets

ECO has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Thursday, June 18th. Pareto Securities downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target on the stock. in a research note on Monday, May 25th. B. Riley Financial boosted their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Finally, Clarkson Capital cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.89.

Okeanis Eco Tankers Price Performance

The company has a market capitalization of $2.08 billion, a PE ratio of 9.41 and a beta of -0.05. The firm has a fifty day moving average of $52.45 and a two-hundred day moving average of $46.52. The company has a current ratio of 1.70, a quick ratio of 1.56 and a debt-to-equity ratio of 0.75.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The business had revenue of $170.16 million for the quarter, compared to analysts’ expectations of $134.02 million. Research analysts anticipate that Okeanis Eco Tankers Corp. will post 9.53 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 28th were issued a $2.00 dividend. 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. This represents a $8.00 dividend on an annualized basis and a yield of 15.0%. Okeanis Eco Tankers’s payout ratio is 141.34%.

Institutional Trading of Okeanis Eco Tankers

A number of institutional investors have recently modified their holdings of ECO. Goldman Sachs Group Inc. grew its position 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 worth $3,328,000 after buying an additional 54,528 shares during the last quarter. Invesco Ltd. bought a new position in shares of Okeanis Eco Tankers during the second quarter valued at approximately $613,000. Lighthouse Investment Partners LLC lifted its stake in Okeanis Eco Tankers by 13.5% in the second quarter. Lighthouse Investment Partners LLC now owns 46,816 shares of the company’s stock worth $1,017,000 after acquiring an additional 5,558 shares during the period. BNP Paribas Financial Markets bought a new stake in Okeanis Eco Tankers in the second quarter valued at $25,000. Finally, Semmax Financial Advisors Inc. boosted its holdings in Okeanis Eco Tankers by 8.2% in the second quarter. Semmax Financial Advisors Inc. now owns 132,545 shares of the company’s stock valued at $2,880,000 after acquiring an additional 10,016 shares in the last quarter.

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.