Okeanis Eco Tankers Corp. (NYSE:ECO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Okeanis Eco Tankers Corp. (NYSE:ECO) has received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $37.00.

Several research firms have weighed in on ECO. Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. B. Riley increased their price target on shares of Okeanis Eco Tankers from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Monday. Wall Street Zen raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Finally, Clarkson Capital raised shares of Okeanis Eco Tankers to a “hold” rating in a research note on Friday, November 14th.

Okeanis Eco Tankers Stock Up 1.7%

Shares of NYSE ECO opened at $35.78 on Wednesday. The firm has a market cap of $1.15 billion, a PE ratio of 14.98 and a beta of -0.01. Okeanis Eco Tankers has a 1 year low of $17.91 and a 1 year high of $39.77. The company has a 50 day simple moving average of $34.50 and a 200 day simple moving average of $28.63. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.00 and a quick ratio of 1.69.

Okeanis Eco Tankers (NYSE:ECO) last posted its earnings results on Thursday, November 13th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.48. The company had revenue of $90.60 million for the quarter, compared to analyst estimates of $51.29 million. Okeanis Eco Tankers had a return on equity of 18.05% and a net margin of 21.92%. On average, research analysts forecast that Okeanis Eco Tankers will post 1.34 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd were given a $0.75 dividend. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. The ex-dividend date was Tuesday, December 2nd. This represents a $3.00 dividend on an annualized basis and a yield of 8.4%. Okeanis Eco Tankers’s payout ratio is 125.52%.

Institutional Trading of Okeanis Eco Tankers

Several large investors have recently added to or reduced their stakes in the stock. Boston Partners raised its stake in Okeanis Eco Tankers by 23.9% during the first quarter. Boston Partners now owns 71,731 shares of the company’s stock worth $1,585,000 after acquiring an additional 13,842 shares during the period. Energy Income Partners LLC grew its holdings in shares of Okeanis Eco Tankers by 84.6% in the 1st quarter. Energy Income Partners LLC now owns 51,189 shares of the company’s stock worth $1,131,000 after acquiring an additional 23,452 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Okeanis Eco Tankers by 56.8% in the first quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company’s stock valued at $3,328,000 after purchasing an additional 54,528 shares in the last quarter. Semmax Financial Advisors Inc. increased its stake in Okeanis Eco Tankers by 210.9% in the 1st quarter. Semmax Financial Advisors Inc. now owns 122,529 shares of the company’s stock valued at $2,906,000 after buying an additional 83,122 shares during the period. Finally, SG Americas Securities LLC grew its stake in Okeanis Eco Tankers by 108.2% in the second quarter. SG Americas Securities LLC now owns 420,789 shares of the company’s stock valued at $9,144,000 after purchasing an additional 218,717 shares in the last quarter.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.