Okeanis Eco Tankers (NYSE:ECO) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of Okeanis Eco Tankers (NYSE:ECO) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

A number of other analysts also recently commented on the company. Clarkson Capital upgraded Okeanis Eco Tankers to a “hold” rating in a report on Friday, November 14th. Wall Street Zen upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Monday, December 29th. B. Riley lifted their price objective on Okeanis Eco Tankers from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Finally, UBS Group downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.00.

Okeanis Eco Tankers Trading Up 1.1%

Shares of NYSE ECO traded up $0.44 on Monday, reaching $40.94. 209,213 shares of the company traded hands, compared to its average volume of 379,641. The stock has a market capitalization of $1.25 billion, a PE ratio of 17.17 and a beta of 0.05. Okeanis Eco Tankers has a fifty-two week low of $17.91 and a fifty-two week high of $41.31. The company has a current ratio of 2.00, a quick ratio of 1.69 and a debt-to-equity ratio of 1.33. The company has a 50 day moving average of $35.67 and a 200 day moving average of $30.30.

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

Okeanis Eco Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd were issued a $0.75 dividend. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend was Tuesday, December 2nd. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 125.52%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its position in shares of Okeanis Eco Tankers by 108.2% during the second quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock worth $9,144,000 after buying an additional 218,717 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Okeanis Eco Tankers by 56.8% during the 1st 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 in the last quarter. Two Sigma Investments LP increased its position in shares of 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. Militia Capital Partners LP bought a new stake in shares of Okeanis Eco Tankers in the 3rd quarter worth about $1,024,000. Finally, Invesco Ltd. acquired a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at about $613,000.

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.