Okeanis Eco Tankers (NYSE:ECO) Lowered to “Neutral” Rating by UBS Group

UBS Group downgraded shares of Okeanis Eco Tankers (NYSE:ECO) from a buy rating to a neutral rating in a report published on Friday, MarketBeat.com reports.

ECO has been the subject of a number of other reports. B. Riley upped their price objective on shares of Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Friday. Zacks Research lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of Okeanis Eco Tankers in a report on Wednesday, October 8th. Finally, Jefferies Financial Group started coverage on Okeanis Eco Tankers in a report on Wednesday, July 23rd. They set a “buy” rating and a $29.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Okeanis Eco Tankers currently has a consensus rating of “Hold” and an average price target of $37.00.

Okeanis Eco Tankers Stock Down 1.8%

NYSE:ECO traded down $0.69 during mid-day trading on Friday, reaching $38.31. The stock had a trading volume of 320,333 shares, compared to its average volume of 169,622. The stock has a market cap of $1.23 billion, a P/E ratio of 18.33 and a beta of 0.01. The business’s 50 day moving average is $31.28 and its 200 day moving average is $26.60. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.96 and a quick ratio of 1.65. Okeanis Eco Tankers has a fifty-two week low of $17.91 and a fifty-two week high of $39.77.

Okeanis Eco Tankers (NYSE:ECO) last posted its earnings results on Wednesday, November 12th. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $59.95 million during the quarter, compared to analysts’ expectations of $51.29 million. As a group, sell-side analysts predict that Okeanis Eco Tankers will post 1.34 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, December 2nd will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $3.00 annualized dividend and a yield of 7.8%. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 125.52%.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of institutional investors and hedge funds have recently bought and sold shares of ECO. Two Sigma Investments LP grew its position in Okeanis Eco Tankers by 517.5% in the 3rd quarter. Two Sigma Investments LP now owns 58,678 shares of the company’s stock worth $1,718,000 after purchasing an additional 49,176 shares during the last quarter. Energy Income Partners LLC grew its holdings in shares of Okeanis Eco Tankers by 31.1% during the 3rd quarter. Energy Income Partners LLC now owns 65,987 shares of the company’s stock worth $1,931,000 after purchasing an additional 15,671 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Okeanis Eco Tankers during the third quarter valued at approximately $394,000. Quantbot Technologies LP bought a new stake in shares of Okeanis Eco Tankers during the third quarter valued at approximately $344,000. Finally, State of Wyoming raised its stake in shares of Okeanis Eco Tankers by 58.6% in the third quarter. State of Wyoming now owns 7,825 shares of the company’s stock valued at $229,000 after purchasing an additional 2,890 shares in the last quarter.

Okeanis Eco Tankers Company Profile

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.