Okeanis Eco Tankers (NYSE:ECO) Upgraded at Zacks Research

Zacks Research upgraded shares of Okeanis Eco Tankers (NYSE:ECO) from a hold rating to a strong-buy rating in a report released on Monday,Zacks.com reports.

A number of other analysts also recently weighed in on ECO. Weiss Ratings reissued a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Monday. UBS Group downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Clarkson Capital upgraded shares of Okeanis Eco Tankers to a “hold” rating in a research note on Friday, November 14th. Finally, B. Riley increased their price target on shares of Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Okeanis Eco Tankers Stock Down 1.1%

Shares of NYSE ECO opened at $35.74 on Monday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.69 and a current ratio of 2.00. Okeanis Eco Tankers has a 1 year low of $17.91 and a 1 year high of $39.77. The stock’s 50-day simple moving average is $33.96 and its 200-day simple moving average is $28.25. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 14.95 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 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.48. Okeanis Eco Tankers had a return on equity of 18.05% and a net margin of 21.92%.The firm had revenue of $90.60 million during the quarter, compared to the consensus estimate of $51.29 million. As a group, equities analysts anticipate that Okeanis Eco Tankers will post 1.34 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Tuesday, December 2nd will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date is Tuesday, December 2nd. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. Okeanis Eco Tankers’s payout ratio is 125.52%.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new position in Okeanis Eco Tankers in the second quarter worth about $25,000. Quarry LP bought a new position in shares of Okeanis Eco Tankers during the third quarter valued at approximately $29,000. State of Wyoming acquired a new stake in shares of Okeanis Eco Tankers during the 2nd quarter worth approximately $107,000. Verition Fund Management LLC acquired a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $211,000. Finally, S.E.E.D. Planning Group LLC bought a new stake in shares of Okeanis Eco Tankers in the 3rd quarter worth approximately $234,000.

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.