Okeanis Eco Tankers (NYSE:ECO) Stock Gets Price Target Increase from B. Riley Financial

Okeanis Eco Tankers (NYSE:ECO) had its price objective raised by research analysts at B. Riley Financial from $100.00 to $120.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial‘s target price points to a potential upside of 38.05% from the stock’s previous close.

Several other equities analysts have also recently commented on ECO. Weiss Ratings raised Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.52.

Okeanis Eco Tankers Stock Down 0.8%

Shares of ECO opened at $86.92 on Friday. The company has a 50-day simple moving average of $85.97 and a 200-day simple moving average of $60.96. The firm has a market capitalization of $3.39 billion, a P/E ratio of 5.02 and a beta of -0.32. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.13 and a current ratio of 4.43. Okeanis Eco Tankers has a 52 week low of $31.75 and a 52 week high of $102.56.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Wednesday, November 11th. The company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $4.73 by $2.94. Okeanis Eco Tankers had a net margin of 60.65% and a return on equity of 93.62%. The business had revenue of $501.50 million during the quarter, compared to analysts’ expectations of $220.83 million. On average, equities research analysts expect that Okeanis Eco Tankers will post 15.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Cvfg LLC lifted its position in shares of Okeanis Eco Tankers by 0.8% during the third quarter. Cvfg LLC now owns 31,925 shares of the company’s stock worth $2,582,000 after purchasing an additional 260 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at about $1,594,000. Global Retirement Partners LLC acquired a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $25,000. HighTower Advisors LLC acquired a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $347,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $398,000.

Recent Okeanis Eco Tankers Headlines

Investors following ECO have been watching these headlines:

• Positive Sentiment: Q4 rates are exceptionally strong: Okeanis said it has covered 71% of fleet days for Q4 at an average of about $420,000 per day, supporting expectations for robust near-term revenue and cash flow. Okeanis Eco Tankers outlines Q4 coverage
• Positive Sentiment: Q3 results substantially exceeded estimates: The company reported EPS of $7.67 versus the cited $4.73 consensus and revenue of $501.5 million versus estimates of $220.83 million. Earnings also rose sharply from $0.77 per share a year earlier, highlighting the strength of the tanker market. Okeanis tops Q3 earnings and revenue estimates
• Neutral Sentiment: The outsized dividend and earnings reflect favorable tanker rates; investors should not assume the current payout or earnings run rate will persist if freight markets weaken.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a Greece-based shipping company that owns and operates crude oil tankers. Its fleet includes very large crude carriers (VLCCs) and Suezmax vessels, which transport crude oil between production regions and markets around the world. The company provides seaborne transportation services to energy companies and commodity traders, deploying its vessels through spot-market voyages and charter arrangements. Its ships are designed to meet modern efficiency and environmental standards.