Okeanis Eco Tankers (NYSE:ECO) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Okeanis Eco Tankers (NYSE:ECO) from a strong-buy rating to a buy rating in a report released on Saturday.

A number of other equities analysts have also weighed in on ECO. Zacks Research lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Weiss Ratings lowered shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 25th. Clarkson Capital raised shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price for the company in a research note on Tuesday, January 27th. Finally, B. Riley Financial boosted their price target on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $50.02.

Okeanis Eco Tankers Stock Up 0.8%

Shares of Okeanis Eco Tankers stock opened at $55.03 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.70 and a debt-to-equity ratio of 0.75. Okeanis Eco Tankers has a 12 month low of $21.27 and a 12 month high of $58.45. The business has a fifty day simple moving average of $50.86 and a 200 day simple moving average of $42.86. The stock has a market cap of $2.15 billion, a PE ratio of 9.72 and a beta of 0.09.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The business had revenue of $170.17 million during the quarter, compared to analysts’ expectations of $134.02 million. Research analysts predict that Okeanis Eco Tankers will post 9.53 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Thursday, May 28th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 14.5%. The ex-dividend date of this dividend is Thursday, May 28th. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s payout ratio is currently 165.78%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Encompass Capital Advisors LLC bought a new position in Okeanis Eco Tankers in the 4th quarter valued at about $27,416,000. FIL Ltd boosted its position in shares of Okeanis Eco Tankers by 17.2% during the 4th quarter. FIL Ltd now owns 574,182 shares of the company’s stock worth $19,339,000 after acquiring an additional 84,130 shares in the last quarter. Fearnley Asset Management AS acquired a new stake in shares of Okeanis Eco Tankers during the 4th quarter worth approximately $18,696,000. Marshall Wace LLP acquired a new stake in shares of Okeanis Eco Tankers during the 4th quarter worth approximately $10,911,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Okeanis Eco Tankers by 23.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 225,358 shares of the company’s stock worth $7,626,000 after acquiring an additional 42,414 shares in the last quarter.

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.