Okeanis Eco Tankers (NYSE:ECO) Rating Lowered to Hold at Zacks Research

Okeanis Eco Tankers (NYSE:ECO) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks reports.

Several other research firms also recently commented on ECO. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings raised Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, September 9th. Finally, B. Riley Financial upped their price target on Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.85.

Okeanis Eco Tankers Stock Performance

ECO stock opened at $86.95 on Monday. The firm has a 50 day moving average of $70.93 and a two-hundred day moving average of $58.95. Okeanis Eco Tankers has a 12 month low of $27.74 and a 12 month high of $90.64. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 8.11 and a beta of -0.19. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76.

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

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 transaction of $4,104,515.80. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several large investors have recently made changes to their positions in the business. State of Wyoming grew its position in Okeanis Eco Tankers by 2.6% in the 1st quarter. State of Wyoming now owns 8,123 shares of the company’s stock worth $411,000 after purchasing an additional 202 shares during the last quarter. Triumph Capital Management increased its position in shares of Okeanis Eco Tankers by 1.6% during the second quarter. Triumph Capital Management now owns 20,112 shares of the company’s stock valued at $1,008,000 after purchasing an additional 312 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in Okeanis Eco Tankers by 102.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after buying an additional 532 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Okeanis Eco Tankers during the 1st quarter valued at about $29,000. Finally, Energy Income Partners LLC lifted its stake in Okeanis Eco Tankers by 3.4% during the first quarter. Energy Income Partners LLC now owns 69,118 shares of the company’s stock worth $3,497,000 after purchasing an additional 2,250 shares during the period.

Okeanis Eco Tankers Company Profile

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.