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

Okeanis Eco Tankers Corp. (NYSE:ECO) hit a new 52-week high on Thursday. The company traded as high as $102.56 and last traded at $100.4720, with a volume of 205,433 shares changing hands. The stock had previously closed at $99.04.

Analysts Set New Price Targets

ECO has been the topic of several recent research reports. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. B. Riley Financial increased their target price on Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. Weiss Ratings upgraded Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Finally, Zacks Research lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $67.85.

Okeanis Eco Tankers Stock Performance

The company has a market capitalization of $3.95 billion, a PE ratio of 9.44 and a beta of -0.19. The company has a current ratio of 4.43, a quick ratio of 4.13 and a debt-to-equity ratio of 0.76. The business’s fifty day moving average is $82.43 and its two-hundred day moving average is $58.86.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Wednesday, August 5th. The company reported $5.91 EPS for the quarter, beating the consensus estimate of $4.61 by $1.30. The business had revenue of $268.14 million for the quarter, compared to the consensus estimate of $220.28 million. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. Equities research analysts predict that Okeanis Eco Tankers Corp. will post 15.33 earnings per share 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 given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 20.7%. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, August 14th. Okeanis Eco Tankers’s payout ratio is currently 195.90%.

Insider Transactions at Okeanis Eco Tankers

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

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of institutional investors and hedge funds have recently modified their holdings of the company. Capital CS Group LLC bought a new position in Okeanis Eco Tankers in the third quarter worth approximately $243,000. Aviance Capital Partners LLC purchased a new position in shares of Okeanis Eco Tankers in the third quarter valued at about $902,000. State of Wyoming boosted its stake in Okeanis Eco Tankers by 4.8% in the 3rd quarter. State of Wyoming now owns 9,791 shares of the company’s stock worth $792,000 after purchasing an additional 451 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Okeanis Eco Tankers in the third quarter worth $43,000. Finally, Samalin Investment Counsel LLC purchased a new position in shares of Okeanis Eco Tankers in the third quarter worth $1,011,000.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates oceangoing tankers. The company focuses primarily on the transportation of crude oil and refined petroleum products for energy companies, commodity traders and other customers in the global oil industry.

Its fleet consists mainly of large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, as well as product tankers designed to transport refined petroleum products. Okeanis Eco Tankers emphasizes fuel efficiency and environmental performance through the use of modern vessels and technologies intended to reduce emissions and operating consumption.

Okeanis Eco Tankers was established in 2018 and is headquartered in Athens, Greece.