Okeanis Eco Tankers Corp. (NYSE:ECO) Receives Average Recommendation of “Hold” from Analysts

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have been given an average recommendation of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $37.00.

A number of research firms have recently commented on ECO. Jefferies Financial Group assumed coverage on Okeanis Eco Tankers in a research report on Wednesday, July 23rd. They set a “buy” rating and a $29.00 target price on the stock. Wall Street Zen raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Okeanis Eco Tankers in a research report on Wednesday, October 8th. UBS Group lowered shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research report on Friday. Finally, Zacks Research downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in Okeanis Eco Tankers during the 2nd quarter worth $25,000. State of Wyoming acquired a new stake in shares of Okeanis Eco Tankers in the second quarter valued at about $107,000. S.E.E.D. Planning Group LLC purchased a new position in shares of Okeanis Eco Tankers in the third quarter worth about $234,000. Quantbot Technologies LP acquired a new position in Okeanis Eco Tankers during the third quarter worth about $344,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Okeanis Eco Tankers during the 3rd quarter valued at about $394,000.

Okeanis Eco Tankers Price Performance

NYSE:ECO opened at $38.31 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.96 and a quick ratio of 1.65. The company has a 50 day moving average price of $31.28 and a 200-day moving average price of $26.60. Okeanis Eco Tankers has a 1-year low of $17.91 and a 1-year high of $39.77. The firm has a market cap of $1.23 billion and a price-to-earnings ratio of 18.33.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.29 by $0.48. Okeanis Eco Tankers had a net margin of 19.52% and a return on equity of 15.81%. The company had revenue of $59.95 million for the quarter, compared to analyst estimates of $51.29 million. Equities research analysts forecast that Okeanis Eco Tankers will post 1.34 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, December 2nd will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 7.8%. Okeanis Eco Tankers’s payout ratio is currently 133.97%.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.