Okeanis Eco Tankers Corp. (NYSE:ECO) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate Okeanis Eco Tankers “Moderate Buy”: Six brokerages set an average 12-month price target of $67.85, while B. Riley recently raised its target to $100 and maintained a buy rating.
• Strong quarterly results supported the outlook: The company reported $5.91 in quarterly EPS, beating estimates by $1.30, and revenue of $268.14 million versus the $220.28 million consensus.
• The dividend was sharply increased: Okeanis declared a quarterly dividend of $5.25 per share, up from $2.00, implying an annualized dividend of $21.00 and a 23.7% yield, although the payout ratio stands at 195.9%.

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $67.85.

ECO has been the subject of several recent research reports. Weiss Ratings upgraded Okeanis Eco Tankers from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, September 9th. Zacks Research upgraded Okeanis Eco Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Wall Street Zen upgraded Okeanis Eco Tankers from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Finally, B. Riley Financial lifted their price target on shares of Okeanis Eco Tankers from $75.00 to $100.00 and gave the company a "buy" rating in a research report on Monday.

Okeanis Eco Tankers Stock Performance

Shares of ECO opened at $88.52 on Tuesday. 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 stock has a 50-day moving average of $70.35 and a 200-day moving average of $58.67. The company has a market cap of $3.46 billion, a PE ratio of 8.26 and a beta of -0.19. Okeanis Eco Tankers has a one year low of $27.74 and a one year high of $90.64.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $5.91 EPS for the quarter, beating analysts' consensus estimates of $4.61 by $1.30. The business had revenue of $268.14 million during the quarter, compared to analyst estimates of $220.28 million. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. On average, equities research analysts predict 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 issued a dividend of $5.25 per share. 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 23.7%. The ex-dividend date was Friday, August 14th. Okeanis Eco Tankers's dividend payout ratio is 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 dated Friday, August 14th. The shares were sold at an average price of $59.99, for a total value of $4,104,515.80. Following the transaction, the director owned 1,347,038 shares of the company's stock, valued at approximately $80,808,809.62. This trade represents a 4.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC bought a new position in shares of Okeanis Eco Tankers in the fourth quarter valued at approximately $27,416,000. Fearnley Asset Management AS bought a new stake in Okeanis Eco Tankers during the fourth quarter worth $18,696,000. Bank of America Corp DE raised its position in Okeanis Eco Tankers by 96.7% in the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company's stock valued at $14,079,000 after buying an additional 136,782 shares during the last quarter. Walleye Capital LLC raised its position in Okeanis Eco Tankers by 71.9% in the 1st quarter. Walleye Capital LLC now owns 177,417 shares of the company's stock valued at $8,976,000 after buying an additional 74,231 shares during the last quarter. Finally, Militia Capital Management LLC bought a new position in Okeanis Eco Tankers during the 1st quarter valued at $3,541,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates a fleet of modern, fuel-efficient crude oil tankers. The company focuses primarily on large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, which transport crude oil between major production and refining regions around the world.

Through its vessels and associated commercial and technical management activities, Okeanis Eco Tankers provides seaborne transportation services to customers in the global energy industry.

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