Okeanis Eco Tankers (NYSE:ECO) Sets New 12-Month High – Still a Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $50.25 and last traded at $49.9670, with a volume of 561888 shares trading hands. The stock had previously closed at $49.20.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Wall Street Zen raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Monday, December 29th. Clarkson Capital upgraded shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price target for the company in a report on Tuesday, January 27th. Finally, B. Riley Financial lifted their target price on Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.35.

Okeanis Eco Tankers Trading Down 0.4%

The business’s 50-day moving average is $39.17 and its two-hundred day moving average is $34.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.16 and a current ratio of 3.41.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.48. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%.The business had revenue of $91.33 million during the quarter, compared to analysts’ expectations of $98.45 million. Equities analysts predict that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 dividend on an annualized basis and a dividend yield of 11.8%. Okeanis Eco Tankers’s dividend payout ratio is currently 80.21%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its stake in shares of 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 purchasing an additional 54,528 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Okeanis Eco Tankers by 108.2% in the 2nd quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock valued at $9,144,000 after acquiring an additional 218,717 shares during the last quarter. Invesco Ltd. acquired a new stake in Okeanis Eco Tankers during the second quarter worth about $613,000. Lighthouse Investment Partners LLC lifted its holdings in shares of Okeanis Eco Tankers by 13.5% in 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 during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers during the second quarter valued at $25,000.

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.