Okeanis Eco Tankers (NYSE:ECO) Sets New 52-Week High – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $66.25 and last traded at $66.12, with a volume of 152015 shares traded. The stock had previously closed at $64.10.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. B. Riley Financial raised their target price on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note 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. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, Pareto Securities cut Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective on the stock. in a research note on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Okeanis Eco Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.52.

Okeanis Eco Tankers Price Performance

The company has a debt-to-equity ratio of 0.76, a current ratio of 4.43 and a quick ratio of 4.13. The company’s 50-day simple moving average is $56.85 and its 200-day simple moving average is $52.16. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 6.02 and a beta of -0.15.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $5.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. On average, equities research analysts anticipate that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were paid a dividend of $5.25 per share. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, August 14th. This represents a $21.00 annualized dividend and a yield of 32.5%. Okeanis Eco Tankers’s payout ratio is presently 195.90%.

Insider Buying and Selling

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $59.99, for a total value of $4,104,515.80. Following the transaction, the director owned 1,347,038 shares in the company, valued at $80,808,809.62. The trade was a 4.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of ECO. Encompass Capital Advisors LLC purchased a new position in Okeanis Eco Tankers in the fourth quarter valued at about $27,416,000. FIL Ltd grew its stake in Okeanis Eco Tankers by 17.2% during the 4th quarter. FIL Ltd now owns 574,182 shares of the company’s stock valued at $19,339,000 after purchasing an additional 84,130 shares in the last quarter. Fearnley Asset Management AS purchased a new stake in Okeanis Eco Tankers during the 4th quarter worth approximately $18,696,000. Marshall Wace LLP purchased a new stake in Okeanis Eco Tankers during the 4th quarter worth approximately $10,911,000. Finally, Bank of America Corp DE raised its position in shares of Okeanis Eco Tankers by 96.7% in the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after purchasing an additional 136,782 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.