Okeanis Eco Tankers Corp. (NYSE:ECO) Given Average Recommendation of “Buy” by Analysts

Okeanis Eco Tankers Corp. (NYSE:ECO) has been assigned a consensus recommendation of “Buy” from the six research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $43.35.

Several research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Clarkson Capital raised shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price target on the stock in a research note on Tuesday, January 27th. Finally, B. Riley Financial lifted their price objective on Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, February 20th.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several large investors have recently made changes to their positions in ECO. Goldman Sachs Group Inc. increased its holdings in Okeanis Eco Tankers by 56.8% in the first quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company’s stock worth $3,328,000 after buying an additional 54,528 shares during the last quarter. Invesco Ltd. bought a new position in Okeanis Eco Tankers during the second quarter valued at approximately $613,000. Lighthouse Investment Partners LLC lifted its stake in Okeanis Eco Tankers by 13.5% in the second quarter. Lighthouse Investment Partners LLC now owns 46,816 shares of the company’s stock valued at $1,017,000 after acquiring an additional 5,558 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Okeanis Eco Tankers in the second quarter worth approximately $25,000. Finally, Semmax Financial Advisors Inc. grew its position in Okeanis Eco Tankers by 8.2% in the second quarter. Semmax Financial Advisors Inc. now owns 132,545 shares of the company’s stock worth $2,880,000 after acquiring an additional 10,016 shares in the last quarter.

Okeanis Eco Tankers Stock Down 0.6%

Shares of Okeanis Eco Tankers stock opened at $47.20 on Friday. Okeanis Eco Tankers has a 1 year low of $17.91 and a 1 year high of $57.29. The company has a market cap of $1.84 billion, a P/E ratio of 12.62 and a beta of -0.29. The company has a current ratio of 3.41, a quick ratio of 3.16 and a debt-to-equity ratio of 0.97. The stock has a 50-day moving average price of $43.97 and a 200 day moving average price of $36.69.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.48. The company had revenue of $91.33 million for the quarter, compared to the consensus estimate 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, analysts expect that Okeanis Eco Tankers will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd were paid a dividend of $1.55 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $6.20 dividend on an annualized basis and a dividend yield of 13.1%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 165.78%.

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.