Okeanis Eco Tankers (NYSE:ECO) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Okeanis Eco Tankers (NYSE:ECO) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

Several other research analysts also recently weighed in on the stock. B. Riley Financial increased their price target on shares of Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Weiss Ratings raised shares of Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Finally, Clarkson Capital raised Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price on the stock in a report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $43.35.

Okeanis Eco Tankers Stock Down 1.9%

Shares of Okeanis Eco Tankers stock opened at $46.27 on Friday. Okeanis Eco Tankers has a twelve month low of $17.91 and a twelve month high of $57.29. The company has a quick ratio of 3.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.97. The company’s 50 day moving average is $44.13 and its 200 day moving average is $36.89. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 12.37 and a beta of -0.29.

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

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, March 3rd were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This is a boost 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 13.4%. Okeanis Eco Tankers’s dividend payout ratio is currently 165.78%.

Institutional Trading of Okeanis Eco Tankers

A number of large investors have recently added to or reduced their stakes in ECO. Encompass Capital Advisors LLC purchased a new stake in shares of Okeanis Eco Tankers during the 4th quarter valued at about $27,416,000. FIL Ltd grew its position in Okeanis Eco Tankers by 17.2% in the fourth quarter. FIL Ltd now owns 574,182 shares of the company’s stock worth $19,339,000 after acquiring an additional 84,130 shares in the last quarter. Fearnley Asset Management AS bought a new stake in Okeanis Eco Tankers during the fourth quarter worth approximately $18,696,000. SG Americas Securities LLC increased its stake in Okeanis Eco Tankers by 5.4% during the third quarter. SG Americas Securities LLC now owns 443,695 shares of the company’s stock worth $12,987,000 after acquiring an additional 22,906 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Okeanis Eco Tankers during the fourth quarter valued at approximately $10,911,000.

Okeanis Eco Tankers Company Profile

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.