Okeanis Eco Tankers (NYSE:ECO) Sees Large Volume Increase – Should You Buy?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) saw strong trading volume on Thursday . 245,704 shares traded hands during trading, an increase of 41% from the previous session’s volume of 173,977 shares.The stock last traded at $37.6050 and had previously closed at $37.01.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ECO shares. Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Okeanis Eco Tankers in a research note on Wednesday, October 8th. Clarkson Capital upgraded shares of Okeanis Eco Tankers to a “hold” rating in a research report on Friday, November 14th. UBS Group downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Finally, Jefferies Financial Group started coverage on shares of Okeanis Eco Tankers in a report on Wednesday, July 23rd. They issued a “buy” rating and a $29.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.00.

Okeanis Eco Tankers Trading Up 0.0%

The company has a quick ratio of 1.65, a current ratio of 1.96 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.19 billion and a PE ratio of 17.72. The stock’s fifty day simple moving average is $31.89 and its two-hundred day simple moving average is $26.93.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Wednesday, November 12th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.29 by $0.48. Okeanis Eco Tankers had a return on equity of 15.81% and a net margin of 19.52%.The business had revenue of $59.95 million for the quarter, compared to the consensus estimate of $51.29 million. On average, sell-side analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd will be given a dividend of $0.75 per share. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $3.00 annualized dividend and a yield of 8.1%. Okeanis Eco Tankers’s payout ratio is currently 125.52%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of Okeanis Eco Tankers by 5.4% during the third quarter. SG Americas Securities LLC now owns 443,695 shares of the company’s stock valued at $12,987,000 after buying an additional 22,906 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Okeanis Eco Tankers by 56.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company’s stock worth $3,328,000 after acquiring an additional 54,528 shares during the last quarter. Semmax Financial Advisors Inc. lifted its position in Okeanis Eco Tankers by 8.2% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 132,545 shares of the company’s stock valued at $2,880,000 after acquiring an additional 10,016 shares in the last quarter. Boston Partners boosted its stake in Okeanis Eco Tankers by 23.9% during the 1st quarter. Boston Partners now owns 71,731 shares of the company’s stock valued at $1,585,000 after purchasing an additional 13,842 shares during the last quarter. Finally, Energy Income Partners LLC boosted its stake in Okeanis Eco Tankers by 31.1% during the 3rd quarter. Energy Income Partners LLC now owns 65,987 shares of the company’s stock valued at $1,931,000 after purchasing an additional 15,671 shares during the last quarter.

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.