Okeanis Eco Tankers (NYSE:ECO) Reaches New 12-Month High - Should You Buy?

Key Points

• Okeanis Eco Tankers reached a new 52-week high of $59.80, with a market capitalization of approximately $2.27 billion and shares trading above their 50- and 200-day moving averages.
• Analyst sentiment remains cautious: the consensus rating is Hold from six analysts, with an average price target of $59.52, although B. Riley raised its target to $75 and maintained a Buy rating.
• The company reported strong quarterly results, including $2.33 in EPS and $170.16 million in revenue, while raising its quarterly dividend to $2.00. The resulting 13.7% yield is attractive, but the 141.34% payout ratio may raise sustainability concerns.

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $59.80 and last traded at $58.2550, with a volume of 280216 shares traded. The stock had previously closed at $58.35.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. B. Riley Financial boosted their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Weiss Ratings reissued a "hold (c+)" rating on shares of Okeanis Eco Tankers in a report on Thursday, June 18th. Zacks Research lowered Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Wall Street Zen downgraded shares of Okeanis Eco Tankers from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 16th. Finally, Clarkson Capital lowered shares of Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $59.52.

Okeanis Eco Tankers Stock Performance

The company has a quick ratio of 1.56, a current ratio of 1.70 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $2.27 billion, a PE ratio of 10.29 and a beta of -0.07. The firm has a 50 day moving average price of $52.84 and a 200-day moving average price of $49.53.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The firm had revenue of $170.16 million for the quarter, compared to analyst estimates of $134.02 million. Research analysts expect that Okeanis Eco Tankers Corp. will post 9.53 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 28th were issued a $2.00 dividend. This is an increase from Okeanis Eco Tankers's previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 13.7%. Okeanis Eco Tankers's payout ratio is currently 141.34%.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in ECO. Fifth Third Bancorp purchased a new stake in Okeanis Eco Tankers in the first quarter valued at $29,000. Quarry LP purchased a new position in shares of Okeanis Eco Tankers during the 3rd quarter valued at about $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 valued at $36,000 after buying an additional 532 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at about $25,000. Finally, Royal Bank of Canada lifted its holdings in shares of Okeanis Eco Tankers by 29,762.5% in the 1st quarter. Royal Bank of Canada now owns 2,389 shares of the company's stock valued at $121,000 after buying an additional 2,381 shares during the period.

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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