Okeanis Eco Tankers (NYSE:ECO) Releases Earnings Results, Beats Expectations By $0.48 EPS

Okeanis Eco Tankers (NYSE:ECO) announced its quarterly earnings data on Wednesday. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.48, Zacks reports. Okeanis Eco Tankers had a return on equity of 15.81% and a net margin of 19.52%.

Okeanis Eco Tankers Price Performance

Shares of ECO stock traded up $0.40 during mid-day trading on Wednesday, reaching $35.65. The stock had a trading volume of 134,341 shares, compared to its average volume of 166,390. The company has a market cap of $1.15 billion and a P/E ratio of 17.06. The company has a current ratio of 1.96, a quick ratio of 1.65 and a debt-to-equity ratio of 1.36. Okeanis Eco Tankers has a 12-month low of $17.91 and a 12-month high of $35.92. The business has a 50-day simple moving average of $30.69 and a 200 day simple moving average of $26.34.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of large investors have recently added to or reduced their stakes in ECO. BNP Paribas Financial Markets purchased a new position in Okeanis Eco Tankers during the 2nd quarter valued at about $25,000. State of Wyoming purchased a new stake in shares of Okeanis Eco Tankers in the second quarter valued at about $107,000. Invesco Ltd. acquired a new stake in shares of Okeanis Eco Tankers in the second quarter valued at approximately $613,000. Lighthouse Investment Partners LLC increased its stake in shares of Okeanis Eco Tankers by 13.5% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 46,816 shares of the company’s stock worth $1,017,000 after purchasing an additional 5,558 shares in the last quarter. Finally, Semmax Financial Advisors Inc. increased its stake in shares of Okeanis Eco Tankers by 8.2% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 132,545 shares of the company’s stock worth $2,880,000 after purchasing an additional 10,016 shares in the last quarter.

Analyst Upgrades and Downgrades

ECO has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Okeanis Eco Tankers in a research report on Wednesday, October 8th. 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 for the company. Finally, Zacks Research downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.50.

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.