Okeanis Eco Tankers (NYSE:ECO) Stock Price Up 7.1% – Time to Buy?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) traded up 7.1% on Thursday . The company traded as high as $54.00 and last traded at $53.51. Approximately 129,099 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 484,696 shares. The stock had previously closed at $49.94.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Clarkson Capital downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Pareto Securities downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target on the stock. in a report on Monday, May 25th. Wall Street Zen lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Thursday, June 18th. Finally, B. Riley Financial lifted their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Okeanis Eco Tankers currently has an average rating of “Moderate Buy” and an average target price of $51.89.

Okeanis Eco Tankers Price Performance

The firm has a 50-day simple moving average of $52.55 and a two-hundred day simple moving average of $46.68. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 9.41 and a beta of -0.07. The company has a current ratio of 1.70, a quick ratio of 1.56 and a debt-to-equity ratio of 0.75.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $134.02 million. As a group, analysts predict that Okeanis Eco Tankers Corp. will post 9.53 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 15.0%. The ex-dividend date of this dividend was Thursday, May 28th. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s dividend payout ratio is 141.34%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several large investors have recently made changes to their positions in the company. Navellier & Associates Inc. acquired a new stake in Okeanis Eco Tankers during the fourth quarter valued at $631,000. Militia Capital Partners LP purchased a new position in Okeanis Eco Tankers in the third quarter valued at $1,024,000. Encompass Capital Advisors LLC acquired a new position in shares of Okeanis Eco Tankers in the fourth quarter worth about $27,416,000. GeoSphere Capital Management LLC acquired a new position in shares of Okeanis Eco Tankers in the fourth quarter worth about $2,453,000. Finally, Fearnley Asset Management AS purchased a new stake in shares of Okeanis Eco Tankers during the 4th quarter worth about $18,696,000.

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.