Brokerages Set Okeanis Eco Tankers Corp. (NYSE:ECO) Target Price at $37.00

Okeanis Eco Tankers Corp. (NYSE:ECO) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $37.00.

ECO has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Monday, December 29th. Clarkson Capital upgraded Okeanis Eco Tankers to a “hold” rating in a research report on Friday, November 14th. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Finally, UBS Group lowered Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several large investors have recently added to or reduced their stakes in ECO. Goldman Sachs Group Inc. increased its position 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 acquiring an additional 54,528 shares during the period. Semmax Financial Advisors Inc. grew its stake in Okeanis Eco Tankers by 210.9% during the 1st quarter. Semmax Financial Advisors Inc. now owns 122,529 shares of the company’s stock worth $2,906,000 after purchasing an additional 83,122 shares in the last quarter. SG Americas Securities LLC increased its holdings in Okeanis Eco Tankers by 108.2% during the 2nd quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock worth $9,144,000 after purchasing an additional 218,717 shares during the period. S.E.E.D. Planning Group LLC acquired a new stake in Okeanis Eco Tankers in the 3rd quarter valued at about $234,000. Finally, Verition Fund Management LLC acquired a new stake in Okeanis Eco Tankers in the 3rd quarter valued at about $211,000.

Okeanis Eco Tankers Stock Performance

ECO stock opened at $38.12 on Friday. Okeanis Eco Tankers has a one year low of $17.91 and a one year high of $39.77. The firm’s 50 day moving average price is $35.44 and its 200-day moving average price is $30.00. The company has a quick ratio of 1.69, a current ratio of 2.00 and a debt-to-equity ratio of 1.33.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.48. Okeanis Eco Tankers had a net margin of 21.92% and a return on equity of 18.05%. The firm had revenue of $90.60 million for the quarter, compared to analyst estimates of $51.29 million. As a group, equities research analysts forecast that Okeanis Eco Tankers will post 1.34 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, December 2nd were given a dividend of $0.75 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend was Tuesday, December 2nd. Okeanis Eco Tankers’s dividend payout ratio is currently 125.52%.

Okeanis Eco Tankers Company Profile

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.