Okeanis Eco Tankers Corp. (NYSE:ECO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Okeanis Eco Tankers Corp. (NYSE:ECO) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $59.5167.

A number of equities research analysts recently commented on the company. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, September 9th. Pareto Securities downgraded Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target for the company. in a research note on Monday, May 25th. Finally, Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th.

Insider Activity

In related news, Director Financial Lp Qvt sold 68,420 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $59.99, for a total transaction of $4,104,515.80. Following the sale, the director owned 1,347,038 shares of the company’s stock, valued at approximately $80,808,809.62. This represents a 4.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Trading of Okeanis Eco Tankers

Institutional investors and hedge funds have recently bought and sold shares of the company. Encompass Capital Advisors LLC bought a new stake in Okeanis Eco Tankers during the fourth quarter valued at $27,416,000. Fearnley Asset Management AS bought a new position in shares of Okeanis Eco Tankers during the 4th quarter valued at $18,696,000. Bank of America Corp DE raised its position in Okeanis Eco Tankers by 96.7% in the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock worth $14,079,000 after purchasing an additional 136,782 shares during the period. Walleye Capital LLC lifted its stake in Okeanis Eco Tankers by 71.9% in the first quarter. Walleye Capital LLC now owns 177,417 shares of the company’s stock worth $8,976,000 after purchasing an additional 74,231 shares during the last quarter. Finally, Militia Capital Management LLC bought a new stake in Okeanis Eco Tankers in the first quarter worth $3,541,000.

Okeanis Eco Tankers Stock Performance

NYSE ECO opened at $86.24 on Friday. The company has a market cap of $3.37 billion, a P/E ratio of 8.04 and a beta of -0.11. The company has a fifty day simple moving average of $64.20 and a 200 day simple moving average of $55.83. The company has a current ratio of 4.43, a quick ratio of 4.13 and a debt-to-equity ratio of 0.76. Okeanis Eco Tankers has a 12-month low of $27.74 and a 12-month high of $87.31.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Wednesday, August 5th. The company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $4.61 by $1.30. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%. The firm had revenue of $268.14 million for the quarter, compared to the consensus estimate of $220.28 million. Sell-side analysts predict that Okeanis Eco Tankers will post 15.33 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 24.4%. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. Okeanis Eco Tankers’s payout ratio is presently 195.90%.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates a fleet of oceangoing tankers. The company primarily transports crude oil and refined petroleum products for energy companies, commodity traders and other commercial customers in international markets.

Its fleet is focused on large, modern and fuel-efficient vessels, including very large crude carriers (VLCCs), Suezmax crude oil tankers and large range 2 (LR2) product tankers. The company emphasizes environmentally efficient vessel designs and operational practices intended to reduce fuel consumption and emissions while serving global seaborne energy trade.

Okeanis Eco Tankers was established in 2018 and became publicly listed on the New York Stock Exchange in 2019 under the symbol ECO.