Okeanis Eco Tankers (NYSE:ECO) Hits New 1-Year High - Here's Why

Key Points

• Okeanis Eco Tankers' stock reached a new 52-week high of $31.93, a significant increase from its previous close of $31.09.
• The company recently declared an increased quarterly dividend of $0.70 per share, representing an annualized amount of $2.80 and a yield of 8.7%.
• Analysts have mixed views on the stock, with an average rating of "Moderate Buy" and a target price of $34.50, following recent coverage initiations and downgrades.

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $31.88 and last traded at $31.93, with a volume of 127200 shares. The stock had previously closed at $31.09.

Wall Street Analyst Weigh In

ECO has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Okeanis Eco Tankers in a research report on Wednesday, July 23rd. They set a "buy" rating and a $29.00 price objective for the company. Zacks Research lowered Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Okeanis Eco Tankers in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $34.50.

Okeanis Eco Tankers Trading Up 3.6%

The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.65 and a current ratio of 1.96. The company has a 50-day simple moving average of $28.53 and a 200 day simple moving average of $24.91. The company has a market capitalization of $1.04 billion, a P/E ratio of 15.41 and a beta of -0.05.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.46 by $0.37. The company had revenue of $93.95 million for the quarter, compared to the consensus estimate of $56.10 million. Okeanis Eco Tankers had a return on equity of 15.81% and a net margin of 19.52%. Sell-side analysts expect that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend was Friday, August 22nd. This is a boost from Okeanis Eco Tankers's previous quarterly dividend of $0.32. Okeanis Eco Tankers's payout ratio is 133.97%.

Institutional Trading of Okeanis Eco Tankers

Several institutional investors have recently modified their holdings of ECO. BNP Paribas Financial Markets acquired a new stake in shares of Okeanis Eco Tankers during the 2nd quarter worth approximately $25,000. State of Wyoming acquired a new stake in Okeanis Eco Tankers in the 2nd quarter valued at $107,000. S.E.E.D. Planning Group LLC acquired a new stake in Okeanis Eco Tankers in the 3rd quarter valued at $234,000. Triumph Capital Management acquired a new stake in Okeanis Eco Tankers in the 1st quarter valued at $440,000. Finally, Invesco Ltd. acquired a new stake in Okeanis Eco Tankers in the 2nd quarter valued at $613,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.

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