Okeanis Eco Tankers Corp. (NYSE:ECO) Receives $59.52 Average PT from Brokerages

Okeanis Eco Tankers Corp. (NYSE:ECO) has been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $59.5167.

ECO has been the topic of several analyst reports. Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Pareto Securities cut 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. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday.

Insider Transactions at Okeanis Eco Tankers

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $59.99, for a total transaction of $4,104,515.80. Following the sale, the director owned 1,347,038 shares in the company, valued at approximately $80,808,809.62. This trade represents a 4.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of hedge funds have recently modified their holdings of the company. Encompass Capital Advisors LLC purchased a new position in shares of Okeanis Eco Tankers during the 4th quarter valued at $27,416,000. FIL Ltd increased its stake in Okeanis Eco Tankers by 17.2% in the 4th quarter. FIL Ltd now owns 574,182 shares of the company’s stock worth $19,339,000 after buying an additional 84,130 shares in the last quarter. Fearnley Asset Management AS bought a new stake in Okeanis Eco Tankers during the fourth quarter valued at about $18,696,000. Marshall Wace LLP bought a new stake in Okeanis Eco Tankers during the fourth quarter valued at about $10,911,000. Finally, Bank of America Corp DE boosted its stake in shares of Okeanis Eco Tankers by 96.7% in the first quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock worth $14,079,000 after acquiring an additional 136,782 shares during the period.

Okeanis Eco Tankers Price Performance

Shares of NYSE:ECO opened at $76.07 on Friday. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $2.97 billion, a PE ratio of 7.10 and a beta of -0.11. The firm’s 50 day moving average price is $61.81 and its 200-day moving average price is $54.98. Okeanis Eco Tankers has a twelve month low of $27.74 and a twelve month high of $76.21.

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

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were paid 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 was Friday, August 14th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 27.6%. Okeanis Eco Tankers’s dividend payout ratio is presently 195.90%.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates a fleet of oceangoing tankers. The company primarily transports crude oil and refined petroleum products for energy companies, commodity traders and other commercial customers in international markets.

Its fleet is focused on large, modern and fuel-efficient vessels, including very large crude carriers (VLCCs), Suezmax crude oil tankers and large range 2 (LR2) product tankers. The company emphasizes environmentally efficient vessel designs and operational practices intended to reduce fuel consumption and emissions while serving global seaborne energy trade.

Okeanis Eco Tankers was established in 2018 and became publicly listed on the New York Stock Exchange in 2019 under the symbol ECO.