Okeanis Eco Tankers (NYSE:ECO) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Okeanis Eco Tankers (NYSE:ECO) from a buy rating to a strong-buy rating in a report issued on Saturday.

A number of other equities analysts have also weighed in on the company. Weiss Ratings upgraded Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday. Pareto Securities lowered shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective for the company. in a research note on Monday, May 25th. Clarkson Capital cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. B. Riley Financial lifted their target price on shares of 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 lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $59.52.

Okeanis Eco Tankers Price Performance

NYSE ECO opened at $61.87 on Friday. Okeanis Eco Tankers has a 1 year low of $23.82 and a 1 year high of $64.26. The business’s fifty day moving average is $54.10 and its two-hundred day moving average is $50.52. The stock has a market capitalization of $2.42 billion, a P/E ratio of 5.77 and a beta of -0.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.56 and a current ratio of 4.43.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Tuesday, August 4th. The company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $4.61 by $1.30. The business had revenue of $268.14 million during the quarter, compared to analyst estimates of $220.28 million. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. On average, research analysts forecast that Okeanis Eco Tankers will post 15.33 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 14th will be given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 33.9%. The ex-dividend date is Friday, August 14th. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. Okeanis Eco Tankers’s dividend payout ratio is 74.63%.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in shares of Okeanis Eco Tankers by 56.8% during the first quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company’s stock worth $3,328,000 after purchasing an additional 54,528 shares during the period. Invesco Ltd. acquired a new position in Okeanis Eco Tankers in the 2nd quarter valued at approximately $613,000. Lighthouse Investment Partners LLC increased its stake in Okeanis Eco Tankers by 13.5% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 46,816 shares of the company’s stock valued at $1,017,000 after buying an additional 5,558 shares during the period. BNP Paribas Financial Markets purchased a new stake in Okeanis Eco Tankers in the 2nd quarter worth approximately $25,000. Finally, Semmax Financial Advisors Inc. lifted its position in Okeanis Eco Tankers by 8.2% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 132,545 shares of the company’s stock worth $2,880,000 after buying an additional 10,016 shares in the last quarter.

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.