Okeanis Eco Tankers (NYSE:ECO) Sets New 12-Month High – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares reached a new 52-week high on Thursday . The company traded as high as $64.38 and last traded at $64.5090, with a volume of 60690 shares traded. The stock had previously closed at $62.88.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ECO shares. Pareto Securities cut shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective for the company. in a research note on Monday, May 25th. Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. B. Riley Financial boosted their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Okeanis Eco Tankers has a consensus rating of “Moderate Buy” and an average price target of $59.52.

Okeanis Eco Tankers Stock Up 3.7%

The firm has a 50-day moving average of $54.89 and a two-hundred day moving average of $51.09. 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 $2.55 billion, a PE ratio of 6.09 and a beta of -0.15.

Okeanis Eco Tankers (NYSE:ECO) last posted its 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 return on equity of 62.06% and a net margin of 56.92%.The company had revenue of $268.14 million for the quarter, compared to the consensus estimate of $220.28 million. Equities research analysts predict that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 14th will be given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 32.2%. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. Okeanis Eco Tankers’s dividend payout ratio is 74.63%.

Institutional Trading of Okeanis Eco Tankers

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming raised its stake in shares of Okeanis Eco Tankers by 2.6% in the 1st 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 period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Okeanis Eco Tankers by 102.3% in the 4th 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 purchased a new position in shares of Okeanis Eco Tankers during the 1st quarter worth approximately $29,000. Quarry LP purchased a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $29,000. Finally, BNP Paribas Financial Markets acquired a new stake in Okeanis Eco Tankers in the 2nd quarter valued at approximately $25,000.

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.