Okeanis Eco Tankers Corp. (NYSE:ECO) Receives Average Recommendation of “Hold” from Analysts

Okeanis Eco Tankers Corp. (NYSE:ECO) has been assigned a consensus recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $37.00.

Several research analysts recently weighed in on ECO shares. Clarkson Capital upgraded shares of Okeanis Eco Tankers to a “hold” rating in a research report on Friday, November 14th. Zacks Research lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. B. Riley increased their target price on shares of Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Monday, December 1st. Finally, UBS Group lowered shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th.

Okeanis Eco Tankers Trading Down 2.0%

ECO opened at $36.01 on Wednesday. Okeanis Eco Tankers has a 12 month low of $17.91 and a 12 month high of $39.77. The stock has a fifty day moving average price of $33.83 and a 200-day moving average price of $28.19. The company has a current ratio of 2.00, a quick ratio of 1.69 and a debt-to-equity ratio of 1.33. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 15.06 and a beta of -0.01.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Thursday, November 13th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.48. The business had revenue of $90.60 million during the quarter, compared to the consensus estimate of $51.29 million. Okeanis Eco Tankers had a return on equity of 18.05% and a net margin of 21.92%. As a group, equities research analysts anticipate that Okeanis Eco Tankers will post 1.34 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, December 2nd will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.3%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. Okeanis Eco Tankers’s payout ratio is currently 125.52%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Okeanis Eco Tankers by 56.8% during the first quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company’s stock worth $3,328,000 after purchasing an additional 54,528 shares during the period. Semmax Financial Advisors Inc. boosted its holdings in Okeanis Eco Tankers by 210.9% during the first quarter. Semmax Financial Advisors Inc. now owns 122,529 shares of the company’s stock worth $2,906,000 after buying an additional 83,122 shares in the last quarter. Energy Income Partners LLC grew its holdings in shares of Okeanis Eco Tankers by 84.6% in the 1st quarter. Energy Income Partners LLC now owns 51,189 shares of the company’s stock worth $1,131,000 after acquiring an additional 23,452 shares during the period. Boston Partners grew its holdings in Okeanis Eco Tankers by 23.9% in the first quarter. Boston Partners now owns 71,731 shares of the company’s stock valued at $1,585,000 after purchasing an additional 13,842 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Okeanis Eco Tankers by 108.2% in the second quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock valued at $9,144,000 after buying an additional 218,717 shares in the last quarter.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.