Okeanis Eco Tankers Corp. (NYSE:ECO) to Issue Dividend Increase – $0.75 Per Share

Okeanis Eco Tankers Corp. (NYSE:ECO) declared a quarterly dividend on Wednesday, November 12th. Stockholders of record on Tuesday, December 2nd will be paid a dividend of 0.75 per share on Thursday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date is Tuesday, December 2nd. This is a 7.1% increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.70.

Okeanis Eco Tankers Stock Up 10.0%

Shares of NYSE:ECO traded up $3.59 during mid-day trading on Thursday, hitting $39.45. 426,504 shares of the company traded hands, compared to its average volume of 167,399. The firm’s 50 day simple moving average is $30.85 and its 200 day simple moving average is $26.41. The firm has a market cap of $1.27 billion and a P/E ratio of 18.97. Okeanis Eco Tankers has a 52-week low of $17.91 and a 52-week high of $39.77. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.65 and a current ratio of 1.96.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.48. Okeanis Eco Tankers had a net margin of 19.52% and a return on equity of 15.81%. The company had revenue of $59.95 million for the quarter, compared to the consensus estimate of $51.29 million. On average, equities analysts anticipate that Okeanis Eco Tankers will post 1.34 EPS for the current year.

Analyst Upgrades and Downgrades

ECO has been the subject of several recent analyst reports. Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Jefferies Financial Group started coverage on shares of Okeanis Eco Tankers in a research note on Wednesday, July 23rd. They issued a “buy” rating and a $29.00 price objective on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Okeanis Eco Tankers in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.