Okeanis Eco Tankers Corp. (NYSE:ECO) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate Okeanis Eco Tankers “Moderate Buy”, with two buy ratings, one strong-buy rating and three holds. The average 12-month price target is $59.52, below the stock’s reported $72.99 price.
• The company beat quarterly expectations, reporting $5.91 EPS versus the $4.61 consensus and revenue of $268.14 million versus estimates of $220.28 million.
• Okeanis Eco Tankers raised its quarterly dividend to $5.25 per share, implying a $21.00 annualized payout and a 28.8% yield, although its payout ratio reached 195.9%.

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six brokerages that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $59.5167.

A number of brokerages recently weighed in on ECO. B. Riley Financial raised their price target on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Clarkson Capital lowered Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. Weiss Ratings raised Okeanis Eco Tankers from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday. Pareto Securities downgraded Okeanis Eco Tankers from a "buy" rating to a "hold" rating and set a $57.50 target price on the stock. in a research report on Monday, May 25th. Finally, Wall Street Zen raised Okeanis Eco Tankers from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th.

Insider Transactions at Okeanis Eco Tankers

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of Okeanis Eco Tankers 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 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 document filed with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of hedge funds have recently modified their holdings of the business. Encompass Capital Advisors LLC purchased a new stake in Okeanis Eco Tankers during the 4th quarter valued at about $27,416,000. FIL Ltd boosted its holdings in shares of Okeanis Eco Tankers by 17.2% during the 4th quarter. FIL Ltd now owns 574,182 shares of the company's stock worth $19,339,000 after purchasing an additional 84,130 shares during the last quarter. Fearnley Asset Management AS acquired a new position in shares of Okeanis Eco Tankers during the 4th quarter worth approximately $18,696,000. Marshall Wace LLP purchased a new stake in shares of Okeanis Eco Tankers in the fourth quarter valued at approximately $10,911,000. Finally, Bank of America Corp DE increased its holdings in shares of Okeanis Eco Tankers by 96.7% in 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 during the last quarter.

Okeanis Eco Tankers Price Performance

Shares of NYSE ECO opened at $72.99 on Friday. 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 has a fifty day moving average of $61.36 and a 200 day moving average of $54.80. The firm has a market cap of $2.85 billion, a PE ratio of 6.81 and a beta of -0.11. Okeanis Eco Tankers has a one year low of $27.74 and a one year high of $73.42.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $1.30. The business had revenue of $268.14 million for the quarter, compared to analyst estimates 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 predict that Okeanis Eco Tankers will post 15.33 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 28.8%. The ex-dividend date was Friday, August 14th. This is an increase from Okeanis Eco Tankers's previous quarterly dividend of $2.00. Okeanis Eco Tankers's payout ratio is 195.90%.

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.

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