Brokerages Set Okeanis Eco Tankers Corp. (NYSE:ECO) PT at $59.52

Okeanis Eco Tankers Corp. (NYSE:ECO) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $59.5167.

Several research firms recently commented on ECO. Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Pareto Securities lowered shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective for the company. in a report on Monday, May 25th. Wall Street Zen raised Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. B. Riley Financial increased their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Weiss Ratings upgraded Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, August 6th.

Okeanis Eco Tankers Stock Up 0.7%

Okeanis Eco Tankers stock opened at $64.56 on Monday. Okeanis Eco Tankers has a fifty-two week low of $26.09 and a fifty-two week high of $66.25. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.13 and a current ratio of 4.43. The firm’s 50-day simple moving average is $56.85 and its 200 day simple moving average is $52.16. The stock has a market cap of $2.52 billion, a PE ratio of 6.02 and a beta of -0.15.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $5.91 EPS for the quarter, topping 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 analysts’ expectations of $220.28 million. Research analysts predict that Okeanis Eco Tankers will post 15.33 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were given a $5.25 dividend. The ex-dividend date was Friday, August 14th. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. This represents a $21.00 dividend on an annualized basis and a yield of 32.5%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 195.90%.

Insider Buying and Selling at Okeanis Eco Tankers

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the stock in a transaction that occurred 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 sale, the director directly owned 1,347,038 shares of the company’s stock, valued at $80,808,809.62. This trade represents 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 large investors have recently made changes to their positions in the stock. Fifth Third Bancorp bought a new stake in shares of Okeanis Eco Tankers in the 1st quarter valued at about $29,000. Quarry LP purchased a new position in Okeanis Eco Tankers during the third quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Okeanis Eco Tankers by 102.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after purchasing an additional 532 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at approximately $25,000. Finally, Royal Bank of Canada lifted its stake in shares of Okeanis Eco Tankers by 29,762.5% in the 1st quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock valued at $121,000 after purchasing an additional 2,381 shares during the period.

About Okeanis Eco Tankers

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.