Okeanis Eco Tankers (NYSE:ECO) Sets New 52-Week High – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO) reached a new 52-week high on Friday . The company traded as high as $58.75 and last traded at $58.4370, with a volume of 67200 shares changing hands. The stock had previously closed at $57.46.

Wall Street Analysts Forecast Growth

ECO has been the topic of a number of analyst reports. Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Thursday, June 18th. Wall Street Zen downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Pareto Securities lowered shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target for the company. in a report on Monday, May 25th. Finally, B. Riley Financial increased their price target on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.52.

Okeanis Eco Tankers Stock Up 0.7%

The company has a market capitalization of $2.26 billion, a P/E ratio of 10.23 and a beta of -0.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.70 and a quick ratio of 1.56. The company has a 50 day moving average of $52.70 and a 200-day moving average of $48.96.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The business had revenue of $170.16 million during the quarter, compared to analyst estimates of $134.02 million. As a group, equities analysts anticipate that Okeanis Eco Tankers Corp. will post 9.53 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 28th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 13.8%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Thursday, May 28th. Okeanis Eco Tankers’s payout ratio is presently 141.34%.

Institutional Trading of Okeanis Eco Tankers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECO. State of Wyoming boosted its holdings in Okeanis Eco Tankers by 2.6% in the first quarter. State of Wyoming now owns 8,123 shares of the company’s stock valued at $411,000 after acquiring an additional 202 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Okeanis Eco Tankers by 102.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after buying an additional 532 shares in the last quarter. Fifth Third Bancorp bought a new position in Okeanis Eco Tankers in the first quarter worth about $29,000. Quarry LP purchased a new stake in Okeanis Eco Tankers in the third quarter worth about $29,000. Finally, BNP Paribas Financial Markets purchased a new stake in Okeanis Eco Tankers in the second quarter worth about $25,000.

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.