Brokerages Set Okeanis Eco Tankers Corp. (NYSE:ECO) PT at $59.52

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $59.5167.

Several research analysts have recently issued reports on the stock. Clarkson Capital cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Pareto Securities lowered shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target on the stock. in a research note on Monday, May 25th. B. Riley Financial boosted their price target on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Weiss Ratings raised shares of Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Finally, Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th.

Okeanis Eco Tankers Price Performance

ECO stock opened at $64.28 on Monday. The business has a 50 day moving average price of $56.32 and a 200 day moving average price of $51.91. 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 stock has a market cap of $2.51 billion, a price-to-earnings ratio of 6.00 and a beta of -0.15. Okeanis Eco Tankers has a fifty-two week low of $25.75 and a fifty-two week high of $65.87.

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 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 company had revenue of $268.14 million for the quarter, compared to analyst estimates of $220.28 million. Equities research analysts anticipate that Okeanis Eco Tankers will post 15.33 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 14th will be given a $5.25 dividend. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, August 14th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 32.7%. Okeanis Eco Tankers’s payout ratio is currently 195.90%.

Insider Transactions at Okeanis Eco Tankers

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of Okeanis Eco Tankers stock in a transaction that occurred on 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 transaction, the director owned 1,347,038 shares of the company’s stock, valued at $80,808,809.62. The trade was a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several large investors have recently modified their holdings of the company. State of Wyoming increased its holdings 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 boosted its stake in Okeanis Eco Tankers by 102.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after purchasing an additional 532 shares during the period. Fifth Third Bancorp acquired a new stake in Okeanis Eco Tankers during the 1st quarter worth $29,000. Quarry LP acquired a new stake in Okeanis Eco Tankers during the 3rd quarter worth $29,000. Finally, BNP Paribas Financial Markets purchased a new position in Okeanis Eco Tankers during the 2nd quarter worth $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.