Okeanis Eco Tankers (NYSE:ECO) Sees Strong Trading Volume – Time to Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares saw unusually-strong trading volume on Tuesday . Approximately 530,941 shares were traded during trading, an increase of 6% from the previous session’s volume of 499,097 shares.The stock last traded at $51.77 and had previously closed at $49.65.

Analyst Ratings Changes

A number of research firms recently weighed in on ECO. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Sunday. Clarkson Capital raised Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price objective for the company in a report on Tuesday, January 27th. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Weiss Ratings lowered Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 25th. Finally, B. Riley Financial raised their price target on Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Okeanis Eco Tankers presently has an average rating of “Moderate Buy” and an average target price of $43.35.

Okeanis Eco Tankers Price Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.50. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 13.52 and a beta of -0.07. The company has a 50-day moving average of $45.77 and a 200-day moving average of $38.09.

Okeanis Eco Tankers (NYSE:ECO) last posted its earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.48. The firm had revenue of $91.33 million for the quarter, compared to analyst estimates of $98.45 million. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%. As a group, equities research analysts expect that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, March 3rd were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 dividend on an annualized basis and a dividend yield of 12.3%. Okeanis Eco Tankers’s dividend payout ratio is 165.78%.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new stake in shares of Okeanis Eco Tankers during the second quarter worth about $25,000. Quarry LP purchased a new stake in Okeanis Eco Tankers in the 3rd quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd grew its stake in Okeanis Eco Tankers by 102.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after acquiring an additional 532 shares during the period. State of Wyoming acquired a new position in Okeanis Eco Tankers in the 2nd quarter valued at $107,000. Finally, Verition Fund Management LLC acquired a new position in Okeanis Eco Tankers in the 3rd quarter valued at $211,000.

About Okeanis Eco Tankers

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.