Okeanis Eco Tankers (NYSE:ECO) Shares Down 5.2% – Should You Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price was down 5.2% on Thursday . The stock traded as low as $52.82 and last traded at $52.2040. Approximately 60,237 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 482,480 shares. The stock had previously closed at $55.04.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ECO shares. Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Thursday, June 18th. B. Riley Financial boosted their price target on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Pareto Securities downgraded Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target on the stock. in a research report on Monday, May 25th. Finally, Wall Street Zen lowered Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.89.

Okeanis Eco Tankers Stock Performance

The stock’s fifty day moving average price is $52.59 and its two-hundred day moving average price is $47.35. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70. The company has a market cap of $2.14 billion, a P/E ratio of 9.69 and a beta of -0.07.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.59. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. The business had revenue of $170.16 million for the quarter, compared to analyst estimates of $134.02 million. As a group, equities analysts predict that Okeanis Eco Tankers Corp. will post 9.53 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 28th were issued a dividend of $2.00 per share. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 14.6%. Okeanis Eco Tankers’s payout ratio is presently 141.34%.

Institutional Trading of Okeanis Eco Tankers

Several institutional investors and hedge funds have recently modified their holdings of the business. State of Wyoming grew its position in Okeanis Eco Tankers by 2.6% in the first quarter. State of Wyoming now owns 8,123 shares of the company’s stock valued at $411,000 after acquiring an additional 202 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings 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 acquiring an additional 532 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of Okeanis Eco Tankers in the first quarter worth about $29,000. Quarry LP acquired a new stake in shares of Okeanis Eco Tankers in the 3rd quarter valued at approximately $29,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at approximately $25,000.

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.