Okeanis Eco Tankers (NYSE:ECO) Sets New 1-Year High – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $59.80 and last traded at $58.2550, with a volume of 280216 shares changing hands. The stock had previously closed at $58.35.

Wall Street Analyst Weigh In

ECO has been the topic of a number of analyst reports. Wall Street Zen cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. B. Riley Financial boosted their target price on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Zacks Research downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Pareto Securities cut 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 report on Monday, May 25th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $59.52.

Okeanis Eco Tankers Stock Down 0.2%

The company has a market cap of $2.27 billion, a PE ratio of 10.29 and a beta of -0.07. The business has a 50-day simple moving average of $52.84 and a 200-day simple moving average of $49.53. The company has a quick ratio of 1.56, a current ratio of 1.70 and a debt-to-equity ratio of 0.75.

Okeanis Eco Tankers (NYSE:ECO) last posted 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 return on equity of 37.13% and a net margin of 41.26%.The business had revenue of $170.16 million during the quarter, compared to analysts’ expectations of $134.02 million. Equities research analysts anticipate that Okeanis Eco Tankers Corp. will post 9.53 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 28th were given a dividend of $2.00 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 dividend on an annualized basis and a yield of 13.7%. The ex-dividend date was Thursday, May 28th. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 141.34%.

Institutional Trading of Okeanis Eco Tankers

A number of institutional investors and hedge funds have recently modified their holdings of ECO. BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth about $25,000. Fifth Third Bancorp acquired a new stake in Okeanis Eco Tankers in the 1st quarter worth about $29,000. Quarry LP acquired a new stake in Okeanis Eco Tankers in the 3rd quarter worth about $29,000. Caitong International Asset Management Co. Ltd increased its stake in Okeanis Eco Tankers by 102.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after buying an additional 532 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Okeanis Eco Tankers in the second quarter valued at approximately $107,000.

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.