Okeanis Eco Tankers (NYSE:ECO) Hits New 12-Month High – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $57.96 and last traded at $56.7420, with a volume of 11499 shares changing hands. The stock had previously closed at $56.65.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 29th. Zacks Research lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. B. Riley Financial raised 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. Weiss Ratings lowered Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 25th. Finally, Clarkson Capital upgraded Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price for the company in a research note on Tuesday, January 27th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Okeanis Eco Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.35.

Okeanis Eco Tankers Stock Performance

The stock has a 50-day moving average of $50.72 and a 200 day moving average of $42.47. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 1.39. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.85 and a beta of 0.09.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.48. The firm had revenue of $91.33 million during the quarter, compared to analyst estimates of $98.45 million. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%. On average, analysts expect that Okeanis Eco Tankers Corp. will post 4.35 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, March 3rd were given a $1.55 dividend. The ex-dividend date was 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 yield of 11.2%. Okeanis Eco Tankers’s dividend payout ratio is 165.78%.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new stake in Okeanis Eco Tankers in the first quarter worth about $29,000. Cvfg LLC bought a new position in Okeanis Eco Tankers during the first quarter worth about $1,602,000. Private Advisor Group LLC bought a new position in Okeanis Eco Tankers during the first quarter worth about $256,000. SG Americas Securities LLC bought a new position in Okeanis Eco Tankers during the first quarter worth about $358,000. Finally, Fearnley Asset Management AS bought a new position in Okeanis Eco Tankers during the fourth quarter worth about $18,696,000.

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.