Brokerages Set Okeanis Eco Tankers Corp. (NYSE:ECO) PT at $51.89

Okeanis Eco Tankers Corp. (NYSE:ECO) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $51.8875.

ECO has been the subject of a number of analyst reports. Clarkson Capital lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Pareto Securities downgraded Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective on the stock. in a research report on Monday, May 25th. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. B. Riley Financial upped their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Wall Street Zen downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of ECO. Encompass Capital Advisors LLC acquired a new position in Okeanis Eco Tankers in the 4th quarter valued at about $27,416,000. Fearnley Asset Management AS acquired a new stake in shares of Okeanis Eco Tankers during the 4th quarter worth approximately $18,696,000. Marshall Wace LLP acquired a new stake in shares of Okeanis Eco Tankers during the 4th quarter worth approximately $10,911,000. JPMorgan Chase & Co. acquired a new stake in shares of Okeanis Eco Tankers during the 4th quarter worth approximately $5,222,000. Finally, Bank of America Corp DE raised its position in shares of Okeanis Eco Tankers by 96.7% during the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after buying an additional 136,782 shares during the period.

Okeanis Eco Tankers Stock Performance

ECO opened at $53.25 on Friday. Okeanis Eco Tankers has a twelve month low of $22.38 and a twelve month high of $58.45. The firm has a market capitalization of $2.08 billion, a PE ratio of 9.41 and a beta of -0.07. The company has a current ratio of 1.70, a quick ratio of 1.56 and a debt-to-equity ratio of 0.75. The firm’s 50-day moving average price is $52.55 and its 200 day moving average price is $46.68.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $134.02 million. As a group, sell-side analysts expect that Okeanis Eco Tankers will post 9.53 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 28th were issued a $2.00 dividend. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 dividend on an annualized basis and a dividend yield of 15.0%. The ex-dividend date of this dividend was Thursday, May 28th. Okeanis Eco Tankers’s payout ratio is currently 141.34%.

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.