Okeanis Eco Tankers Corp. (NYSE:ECO) Given Average Rating of “Moderate Buy” by Brokerages

Okeanis Eco Tankers Corp. (NYSE:ECO) has received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $40.0167.

Several equities analysts recently weighed in on ECO shares. Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. UBS Group downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. B. Riley boosted their price objective 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. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Finally, Clarkson Capital raised Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price target on the stock in a research report on Tuesday.

Hedge Funds Weigh In On Okeanis Eco Tankers

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

Okeanis Eco Tankers Price Performance

NYSE:ECO opened at $40.30 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.69 and a current ratio of 2.00. The stock’s 50-day simple moving average is $36.31 and its 200 day simple moving average is $31.49. The company has a market cap of $1.27 billion, a P/E ratio of 16.86 and a beta of 0.05. Okeanis Eco Tankers has a 52-week low of $17.91 and a 52-week high of $41.31.

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 the consensus estimate of $0.29 by $0.48. The firm had revenue of $90.60 million during the quarter, compared to analysts’ expectations 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, sell-side analysts forecast 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. Investors of record on Tuesday, December 2nd were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend was Tuesday, December 2nd. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. Okeanis Eco Tankers’s payout ratio is presently 125.52%.

About Okeanis Eco Tankers

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.