Okeanis Eco Tankers (NYSE:ECO) Hits New 12-Month High – Time to Buy?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) hit a new 52-week high on Thursday . The stock traded as high as $64.38 and last traded at $64.5090, with a volume of 60690 shares traded. The stock had previously closed at $62.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. 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 research note on Monday, May 25th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Weiss Ratings raised Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Finally, Clarkson Capital cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.52.

Okeanis Eco Tankers Trading Down 5.8%

The company’s fifty day moving average is $55.47 and its two-hundred day moving average is $51.33. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 5.62 and a beta of -0.15. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76.

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

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 14th will be given a dividend of $5.25 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, August 14th. This represents a $21.00 annualized dividend and a dividend yield of 34.9%. Okeanis Eco Tankers’s dividend payout ratio is 74.63%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of ECO. Militia Capital Management LLC acquired a new position in Okeanis Eco Tankers in the first quarter valued at $3,541,000. Bank of America Corp DE grew its holdings in shares of Okeanis Eco Tankers by 96.7% during the first quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock worth $14,079,000 after purchasing an additional 136,782 shares during the last quarter. Royal Bank of Canada increased its position in shares of Okeanis Eco Tankers by 29,762.5% during the first quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock worth $121,000 after purchasing an additional 2,381 shares in the last quarter. Energy Income Partners LLC increased its position in shares of Okeanis Eco Tankers by 3.4% during the first quarter. Energy Income Partners LLC now owns 69,118 shares of the company’s stock worth $3,497,000 after purchasing an additional 2,250 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Okeanis Eco Tankers during the first quarter worth about $778,000.

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.