Analysts Set Okeanis Eco Tankers Corp. (NYSE:ECO) Price Target at $43.35

Okeanis Eco Tankers Corp. (NYSE:ECO) has been given an average rating of “Hold” by the six analysts that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $50.0167.

Several equities analysts have recently commented on ECO shares. Weiss Ratings lowered Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 25th. Zacks Research lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Wall Street Zen downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Clarkson Capital lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday. Finally, B. Riley Financial raised their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday.

Okeanis Eco Tankers Price Performance

Shares of NYSE ECO opened at $55.03 on Friday. The firm has a market capitalization of $2.15 billion, a P/E ratio of 9.72 and a beta of 0.09. Okeanis Eco Tankers has a one year low of $21.27 and a one year high of $58.45. The company’s fifty day moving average is $50.86 and its two-hundred day moving average is $42.86. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.39 and a current ratio of 1.70.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.74 by $0.59. The business had revenue of $170.17 million during the quarter, compared to analyst estimates of $134.02 million. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. Analysts forecast that Okeanis Eco Tankers will post 4.35 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Thursday, May 28th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 14.5%. The ex-dividend date of this dividend is Thursday, May 28th. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 165.78%.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new stake in Okeanis Eco Tankers in the 2nd quarter valued at approximately $25,000. Fifth Third Bancorp bought a new stake in Okeanis Eco Tankers during the 1st quarter valued at $29,000. Quarry LP acquired a new position in Okeanis Eco Tankers during the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Okeanis Eco Tankers by 102.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after purchasing an additional 532 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Okeanis Eco Tankers in the second quarter worth $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.