Okeanis Eco Tankers Corp. (ECO) - What Are Researchers Thinking About This Stock?

Key Points

• Analysts remain cautious: Okeanis Eco Tankers has an average “Hold” rating from six analysts, with a 12-month consensus price target of $67.85. Ratings range from four holds to two buys, while B. Riley recently raised its target to $100.
• Strong quarterly results and stock performance: The company reported quarterly EPS of $5.91, beating estimates by $1.30, and revenue of $268.14 million versus the $220.28 million consensus. Shares opened at $101.24, near their 52-week high of $102.56.
• Dividend increased substantially: Okeanis Eco Tankers raised its quarterly dividend to $5.25, equivalent to $21 annually and a 20.7% yield, though its payout ratio is elevated at 195.9%.

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) has been given an average recommendation of "Hold" by the six analysts that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $67.85.

Several equities analysts recently issued reports on ECO shares. Zacks Research downgraded Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. B. Riley Financial lifted their price target on Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, October 5th. Wall Street Zen upgraded Okeanis Eco Tankers from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised shares of Okeanis Eco Tankers from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, September 9th.

Okeanis Eco Tankers Stock Performance

ECO opened at $101.24 on Friday. Okeanis Eco Tankers has a 52-week low of $31.75 and a 52-week high of $102.56. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76. The company has a market cap of $3.95 billion, a P/E ratio of 9.44 and a beta of -0.19. The firm's 50-day moving average price is $82.43 and its 200-day moving average price is $58.86.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) 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. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%. The firm had revenue of $268.14 million during the quarter, compared to analyst estimates of $220.28 million. As a group, equities analysts anticipate that Okeanis Eco Tankers will post 15.33 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were paid a $5.25 dividend. The ex-dividend date was Friday, August 14th. This is an increase from Okeanis Eco Tankers's previous quarterly dividend of $2.00. This represents a $21.00 dividend on an annualized basis and a dividend yield of 20.7%. Okeanis Eco Tankers's dividend payout ratio (DPR) is currently 195.90%.

Insider Buying and Selling at Okeanis Eco Tankers

In related news, Director Financial Lp Qvt sold 68,420 shares of the firm'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. This trade represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several hedge funds have recently added to or reduced their stakes in the business. Capital CS Group LLC acquired a new stake in Okeanis Eco Tankers during the third quarter worth about $243,000. Aviance Capital Partners LLC acquired a new position in Okeanis Eco Tankers in the third quarter valued at approximately $902,000. State of Wyoming lifted its holdings in Okeanis Eco Tankers by 4.8% in the third quarter. State of Wyoming now owns 9,791 shares of the company's stock valued at $792,000 after acquiring an additional 451 shares during the period. Financial Management Professionals Inc. acquired a new position in Okeanis Eco Tankers in the third quarter valued at approximately $43,000. Finally, Samalin Investment Counsel LLC purchased a new stake in Okeanis Eco Tankers in the 3rd quarter worth approximately $1,011,000.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates oceangoing tankers. The company focuses primarily on the transportation of crude oil and refined petroleum products for energy companies, commodity traders and other customers in the global oil industry.

Its fleet consists mainly of large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, as well as product tankers designed to transport refined petroleum products. Okeanis Eco Tankers emphasizes fuel efficiency and environmental performance through the use of modern vessels and technologies intended to reduce emissions and operating consumption.

Okeanis Eco Tankers was established in 2018 and is headquartered in Athens, Greece.

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