Okeanis Eco Tankers (NYSE:ECO) Trading Down 4.1% – Should You Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares were down 4.1% during trading on Wednesday . The company traded as low as $48.35 and last traded at $48.5650. Approximately 426,043 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 505,944 shares. The stock had previously closed at $50.62.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday. Clarkson Capital upgraded Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price target for the company in a report on Tuesday, January 27th. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. B. Riley Financial upped their price objective on Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Weiss Ratings raised Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $43.35.

Okeanis Eco Tankers Price Performance

The company’s 50-day moving average price is $44.52 and its two-hundred day moving average price is $37.26. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 3.16. The company has a market capitalization of $1.90 billion, a P/E ratio of 12.99 and a beta of -0.29.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Wednesday, February 18th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.30 by $0.48. Okeanis Eco Tankers had a net margin of 31.40% and a return on equity of 26.63%. The business had revenue of $91.33 million during the quarter, compared to the consensus estimate of $98.45 million. As a group, sell-side analysts expect that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd were issued a dividend of $1.55 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date was Tuesday, March 3rd. Okeanis Eco Tankers’s dividend payout ratio is presently 165.78%.

Hedge Funds Weigh In On Okeanis Eco Tankers

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

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.