Okeanis Eco Tankers Corp. (NYSE:ECO) Stock Has Average Target Price of $67.85 According to Brokerages

Okeanis Eco Tankers Corp. (NYSE:ECO) has been assigned a consensus recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $67.85.

Several equities research analysts have issued reports on ECO shares. B. Riley Financial increased their target price on Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Finally, Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday.

Insider Activity

In other news, Director Financial Lp Qvt sold 68,420 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $59.99, for a total value of $4,104,515.80. Following the sale, the director directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Okeanis Eco Tankers

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new stake in Okeanis Eco Tankers during the 2nd quarter worth approximately $149,000. Allianz Asset Management GmbH bought a new position in Okeanis Eco Tankers in the 2nd quarter valued at $1,506,000. Triumph Capital Management boosted its holdings in Okeanis Eco Tankers by 1.6% in the 2nd quarter. Triumph Capital Management now owns 20,112 shares of the company’s stock valued at $1,008,000 after purchasing an additional 312 shares during the period. BTG Pactual Asset Management US LLC purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at $1,608,000. Finally, Navellier & Associates Inc. grew its position in shares of Okeanis Eco Tankers by 25.1% during the 2nd quarter. Navellier & Associates Inc. now owns 24,815 shares of the company’s stock valued at $1,244,000 after purchasing an additional 4,976 shares in the last quarter.

Okeanis Eco Tankers Price Performance

ECO opened at $94.54 on Tuesday. The firm has a 50-day moving average price of $72.21 and a 200-day moving average price of $59.58. Okeanis Eco Tankers has a twelve month low of $28.10 and a twelve month high of $94.98. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 8.82 and a beta of -0.19.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $5.91 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $268.14 million for the quarter, compared to analysts’ expectations of $220.28 million. Equities analysts expect that Okeanis Eco Tankers will post 15.33 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were given a dividend of $5.25 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. This represents a $21.00 annualized dividend and a dividend yield of 22.2%. The ex-dividend date was Friday, August 14th. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 195.90%.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates a fleet of modern, fuel-efficient crude oil tankers. The company focuses primarily on large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, which transport crude oil between major production and refining regions around the world.

Through its vessels and associated commercial and technical management activities, Okeanis Eco Tankers provides seaborne transportation services to customers in the global energy industry.