Analysts Set Okeanis Eco Tankers Corp. (NYSE:ECO) Price Target at $59.52

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have been assigned an average rating of “Hold” from the six ratings firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $59.5167.

Several research firms recently commented on ECO. Pareto Securities lowered shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective on the stock. in a research note on Monday, May 25th. Wall Street Zen lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. B. Riley Financial boosted their price target on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of institutional investors have recently bought and sold shares of ECO. State of Wyoming raised its stake in Okeanis Eco Tankers by 2.6% during the first quarter. State of Wyoming now owns 8,123 shares of the company’s stock valued at $411,000 after purchasing an additional 202 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 buying an additional 532 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of Okeanis Eco Tankers in the 1st quarter worth about $29,000. Quarry LP purchased a new stake in shares of Okeanis Eco Tankers during the 3rd quarter valued at about $29,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Okeanis Eco Tankers during the 2nd quarter valued at about $25,000.

Okeanis Eco Tankers Price Performance

ECO opened at $57.53 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70. The stock has a market capitalization of $2.25 billion, a PE ratio of 10.17 and a beta of -0.07. The stock’s 50 day moving average price is $52.73 and its 200-day moving average price is $49.24. Okeanis Eco Tankers has a 52-week low of $23.34 and a 52-week high of $59.07.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.59. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. The company had revenue of $170.16 million for the quarter, compared to analysts’ expectations of $134.02 million. On average, equities research analysts predict that Okeanis Eco Tankers will post 9.53 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 28th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 13.9%. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Thursday, May 28th. Okeanis Eco Tankers’s dividend payout ratio is presently 141.34%.

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.