Okeanis Eco Tankers (NYSE:ECO) Upgraded by Clarkson Capital to “Buy” Rating

Clarkson Capital upgraded shares of Okeanis Eco Tankers (NYSE:ECO) from a neutral rating to a buy rating in a report published on Tuesday morning, MarketBeat.com reports. Clarkson Capital currently has $46.05 target price on the stock.

Several other brokerages have also issued reports on ECO. Zacks Research lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. UBS Group lowered Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. B. Riley increased their price objective on Okeanis Eco Tankers from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Wall Street Zen raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $40.02.

Okeanis Eco Tankers Stock Up 1.9%

ECO stock opened at $39.44 on Tuesday. The company’s 50 day moving average is $36.24 and its 200 day moving average is $31.42. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 16.50 and a beta of 0.05. The company has a current ratio of 2.00, a quick ratio of 1.69 and a debt-to-equity ratio of 1.33. Okeanis Eco Tankers has a 1-year low of $17.91 and a 1-year high of $41.31.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.48. The business had revenue of $90.60 million during the quarter, compared to analysts’ expectations of $51.29 million. Okeanis Eco Tankers had a net margin of 21.92% and a return on equity of 18.05%. Sell-side analysts predict that Okeanis Eco Tankers will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, December 2nd were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 7.6%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, December 2nd. Okeanis Eco Tankers’s payout ratio is presently 125.52%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Large investors have recently modified their holdings of the stock. Verition Fund Management LLC purchased a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at approximately $211,000. Quarry LP purchased a new stake in shares of Okeanis Eco Tankers during the third quarter valued at $29,000. Militia Capital Partners LP bought a new stake in shares of Okeanis Eco Tankers in the third quarter worth approximately $1,024,000. Millennium Management LLC bought a new stake in Okeanis Eco Tankers in the 3rd quarter worth approximately $486,000. Finally, Lighthouse Investment Partners LLC grew its holdings in shares of Okeanis Eco Tankers by 11.0% in the third quarter. Lighthouse Investment Partners LLC now owns 51,965 shares of the company’s stock worth $1,521,000 after acquiring an additional 5,149 shares during the period.

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.