Okeanis Eco Tankers (NYSE:ECO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Okeanis Eco Tankers (NYSE:ECO) from a buy rating to a strong-buy rating in a report published on Saturday.

Other analysts have also issued research reports about the stock. Pareto Securities lowered shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price on the stock. in a report on Monday, May 25th. Clarkson Capital downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. B. Riley Financial upped their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Weiss Ratings raised shares of Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday. Finally, Zacks Research lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.52.

Okeanis Eco Tankers Stock Performance

NYSE ECO opened at $60.46 on Friday. The company has a market capitalization of $2.36 billion, a PE ratio of 5.64 and a beta of -0.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.13 and a current ratio of 4.43. Okeanis Eco Tankers has a 52-week low of $23.82 and a 52-week high of $64.26. The company has a 50-day simple moving average of $54.34 and a 200 day simple moving average of $50.75.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $4.61 by $1.30. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%.The company had revenue of $268.14 million during the quarter, compared to the consensus estimate of $220.28 million. On average, research analysts predict that Okeanis Eco Tankers will post 15.33 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 14th will be issued a dividend of $5.25 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 34.7%. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. Okeanis Eco Tankers’s payout ratio is 74.63%.

Institutional Trading of Okeanis Eco Tankers

Hedge funds have recently bought and sold shares of the company. Encompass Capital Advisors LLC bought a new position in Okeanis Eco Tankers during the fourth quarter valued at approximately $27,416,000. Fearnley Asset Management AS purchased a new position in shares of Okeanis Eco Tankers during the fourth quarter worth approximately $18,696,000. Marshall Wace LLP bought a new stake in shares of Okeanis Eco Tankers in the 4th quarter worth approximately $10,911,000. JPMorgan Chase & Co. bought a new stake in shares of Okeanis Eco Tankers in the 4th quarter worth approximately $5,222,000. Finally, Bank of America Corp DE boosted its stake in shares of Okeanis Eco Tankers by 96.7% in the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after purchasing an additional 136,782 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.