Okeanis Eco Tankers (NYSE:ECO) Sets New 12-Month High – Here’s Why

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $71.77 and last traded at $72.4370, with a volume of 370213 shares trading hands. The stock had previously closed at $71.43.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ECO shares. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. B. Riley Financial increased their price objective on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Pareto Securities cut Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target for the company. in a research note on Monday, May 25th. Finally, Clarkson Capital downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.52.

Okeanis Eco Tankers Stock Down 0.6%

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 company has a market capitalization of $2.77 billion, a PE ratio of 6.68 and a beta of -0.11. The firm’s 50-day simple moving average is $60.13 and its 200 day simple moving average is $54.28.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $5.91 EPS for the quarter, beating the consensus estimate of $4.61 by $1.30. The firm had revenue of $268.14 million during 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, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 29.6%. The ex-dividend date was Friday, August 14th. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. Okeanis Eco Tankers’s payout ratio is 195.90%.

Insider Activity at Okeanis Eco Tankers

In other news, Director Financial Lp Qvt sold 68,420 shares of the business’s stock in a transaction that occurred on 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of ECO. BNP Paribas Financial Markets purchased a new stake in Okeanis Eco Tankers during the second quarter worth $25,000. Fifth Third Bancorp purchased a new position in shares of Okeanis Eco Tankers in the first quarter valued at $29,000. Quarry LP purchased a new position in shares of Okeanis Eco Tankers in the third quarter valued at $29,000. Caitong International Asset Management Co. Ltd raised its stake 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 worth $36,000 after buying an additional 532 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth $107,000.

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.