Okeanis Eco Tankers (NYSE:ECO) Hits New 12-Month High – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares hit a new 52-week high on Wednesday . The company traded as high as $68.51 and last traded at $67.93, with a volume of 443917 shares trading hands. The stock had previously closed at $66.74.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ECO. B. Riley Financial raised their price target 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. Weiss Ratings cut Okeanis Eco Tankers from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 25th. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Wall Street Zen raised Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Clarkson Capital downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Okeanis Eco Tankers has a consensus rating of “Moderate Buy” and an average target price of $59.52.

Okeanis Eco Tankers Stock Up 1.0%

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 firm has a market capitalization of $2.72 billion, a P/E ratio of 6.50 and a beta of -0.11. The company’s 50-day simple moving average is $59.26 and its two-hundred day simple moving average is $53.87.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $4.61 by $1.30. The business had revenue of $268.14 million for the quarter, compared to analysts’ expectations of $220.28 million. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%. As a group, research analysts expect that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 30.1%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, August 14th. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 195.90%.

Insider Transactions at Okeanis Eco Tankers

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was 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 owned 1,347,038 shares of the company’s stock, valued at approximately $80,808,809.62. The trade was a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Encompass Capital Advisors LLC bought a new position in shares of Okeanis Eco Tankers during the 4th quarter valued at approximately $27,416,000. FIL Ltd increased its holdings in Okeanis Eco Tankers by 17.2% in 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 bought a new stake in Okeanis Eco Tankers during the 4th quarter worth approximately $18,696,000. Marshall Wace LLP bought a new stake in Okeanis Eco Tankers during the 4th quarter worth approximately $10,911,000. Finally, Bank of America Corp DE lifted its holdings in Okeanis Eco Tankers by 96.7% during the first 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.

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.