Okeanis Eco Tankers (NYSE:ECO) Hits New 1-Year High – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $39.92 and last traded at $39.6250, with a volume of 86475 shares. The stock had previously closed at $38.80.

Analyst Ratings Changes

A number of brokerages have recently commented on ECO. Weiss Ratings reiterated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Monday, December 29th. Clarkson Capital upgraded Okeanis Eco Tankers to a “hold” rating in a research report on Friday, November 14th. UBS Group cut shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. B. Riley upped their price target on shares of Okeanis Eco Tankers from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Finally, Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.00.

Okeanis Eco Tankers Stock Down 3.0%

The company has a market cap of $1.30 billion, a P/E ratio of 17.03 and a beta of 0.05. The stock’s 50-day moving average price is $35.93 and its 200-day moving average price is $30.43. The company has a current ratio of 2.00, a quick ratio of 1.69 and a debt-to-equity ratio of 1.33.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.48. The business had revenue of $90.60 million for the quarter, compared to analyst estimates of $51.29 million. Okeanis Eco Tankers had a return on equity of 18.05% and a net margin of 21.92%. As a group, research analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd were issued a $0.75 dividend. The ex-dividend date was Tuesday, December 2nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 7.7%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 125.52%.

Institutional Trading of Okeanis Eco Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its holdings in shares of Okeanis Eco Tankers by 5.4% in the third quarter. SG Americas Securities LLC now owns 443,695 shares of the company’s stock valued at $12,987,000 after purchasing an additional 22,906 shares in the last quarter. Goldman Sachs Group Inc. grew its position 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 purchasing an additional 54,528 shares in the last quarter. Semmax Financial Advisors Inc. lifted its position in shares of Okeanis Eco Tankers by 8.2% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 132,545 shares of the company’s stock worth $2,880,000 after buying an additional 10,016 shares in the last quarter. Energy Income Partners LLC grew its stake in Okeanis Eco Tankers by 31.1% in 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 period. Finally, Two Sigma Investments LP boosted its holdings in shares of Okeanis Eco Tankers by 517.5% in the 3rd quarter. Two Sigma Investments LP now owns 58,678 shares of the company’s stock worth $1,718,000 after buying an additional 49,176 shares during the last quarter.

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.