Okeanis Eco Tankers (NYSE:ECO) Sets New 1-Year High – What’s Next?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) reached a new 52-week high on Wednesday. The stock traded as high as $100.68 and last traded at $99.4790, with a volume of 868,097 shares. The stock had previously closed at $98.63.

Analysts Set New Price Targets

Several brokerages recently weighed in on ECO. B. Riley Financial lifted their price objective on Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings raised shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Finally, Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Okeanis Eco Tankers currently has an average rating of “Hold” and a consensus price target of $67.85.

Okeanis Eco Tankers Stock Up 0.9%

The stock’s fifty day moving average is $74.42 and its two-hundred day moving average is $60.59. The company has a current ratio of 4.43, a quick ratio of 4.13 and a debt-to-equity ratio of 0.76. The firm has a market cap of $3.88 billion, a P/E ratio of 9.14 and a beta of -0.19.

Okeanis Eco Tankers (NYSE:ECO) last posted its earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share (EPS) for the quarter, topping 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 business had revenue of $268.14 million for the quarter, compared to analysts’ expectations of $220.28 million. As a group, research analysts anticipate that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were issued a $5.25 dividend. The ex-dividend date of this dividend was Friday, August 14th. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. This represents a $21.00 annualized dividend and a dividend yield of 21.1%. Okeanis Eco Tankers’s payout ratio is currently 195.90%.

Insider Buying and Selling at Okeanis Eco Tankers

In related news, Director Financial Lp Qvt sold 68,420 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $59.99, for a total value of $4,104,515.80. Following the sale, the director owned 1,347,038 shares in the company, valued at approximately $80,808,809.62. This trade represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ECO. NewEdge Advisors LLC bought a new position in Okeanis Eco Tankers in the 2nd quarter worth about $149,000. Allianz Asset Management GmbH purchased a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at about $1,506,000. Triumph Capital Management raised its holdings in shares of 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 acquiring an additional 312 shares in the last quarter. BTG Pactual Asset Management US LLC purchased a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at about $1,608,000. Finally, Navellier & Associates Inc. boosted 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 acquiring an additional 4,976 shares during the last quarter.

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.