Okeanis Eco Tankers Corp. (NYSE:ECO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $43.35.

A number of research analysts recently issued reports on ECO shares. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. UBS Group downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Clarkson Capital upgraded shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price objective on the stock in a report on Tuesday, January 27th. Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Monday, December 29th.

Okeanis Eco Tankers Stock Performance

Shares of Okeanis Eco Tankers stock opened at $49.17 on Monday. The stock’s 50-day moving average is $38.18 and its 200 day moving average is $33.73. Okeanis Eco Tankers has a one year low of $17.91 and a one year high of $49.47. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.16 and a current ratio of 3.41.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.48. The firm had revenue of $91.33 million for the quarter, compared to analyst estimates of $98.45 million. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%. As a group, equities analysts anticipate that Okeanis Eco Tankers will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd will be issued a dividend of $1.55 per share. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 annualized dividend and a dividend yield of 12.6%. The ex-dividend date is Tuesday, March 3rd. Okeanis Eco Tankers’s dividend payout ratio is presently 80.21%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Large investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its position in Okeanis Eco Tankers by 108.2% in the 2nd quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock valued at $9,144,000 after acquiring an additional 218,717 shares in the last quarter. S.E.E.D. Planning Group LLC purchased a new stake in shares of Okeanis Eco Tankers in the third quarter worth approximately $234,000. Marnell Management LLC bought a new position in shares of Okeanis Eco Tankers in the fourth quarter valued at approximately $273,000. GeoSphere Capital Management LLC bought a new position in shares of Okeanis Eco Tankers in the fourth quarter valued at approximately $2,453,000. Finally, Navellier & Associates Inc. purchased a new position in shares of Okeanis Eco Tankers during the fourth quarter valued at approximately $631,000.

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.