Okeanis Eco Tankers (NYSE:ECO) Shares Down 5.2% - Should You Sell?

Key Points

• Okeanis Eco Tankers shares fell 5.2% on Thursday, trading as low as $52.82 on volume well below average. The stock last changed hands at $52.20, down from the previous close of $55.04.
• Recent analyst actions were mixed, with several upgrades and downgrades offsetting each other. MarketBeat data shows a Moderate Buy consensus and a consensus price target of $51.89.
• The company recently beat quarterly earnings expectations, reporting EPS of $2.33 versus $1.74 expected and revenue of $170.16 million versus $134.02 million estimated. It also raised its quarterly dividend to $2.00 per share, implying a very high annualized yield of 15.7%.

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) fell 5.2% during trading on Thursday . The stock traded as low as $52.82 and last traded at $52.2040. 60,237 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 482,480 shares. The stock had previously closed at $55.04.

Analyst Upgrades and Downgrades

ECO has been the topic of several recent analyst reports. 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. Zacks Research upgraded shares of Okeanis Eco Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. 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. Pareto Securities lowered Okeanis Eco Tankers from a "buy" rating to a "hold" rating and set a $57.50 price objective for the company. in a research note on Monday, May 25th. Finally, Clarkson Capital cut Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.89.

Okeanis Eco Tankers Price Performance

The firm has a market capitalization of $1.99 billion, a PE ratio of 9.08 and a beta of -0.07. The stock's 50 day simple moving average is $52.63 and its two-hundred day simple moving average is $47.17. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share (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 business had revenue of $170.16 million during the quarter, compared to analyst estimates of $134.02 million. On average, sell-side analysts forecast that Okeanis Eco Tankers Corp. will post 9.53 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 28th were issued a dividend of $2.00 per share. The ex-dividend date was Thursday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 15.7%. This is a boost from Okeanis Eco Tankers's previous quarterly dividend of $1.55. Okeanis Eco Tankers's payout ratio is presently 141.34%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in Okeanis Eco Tankers by 56.8% during the first quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company's stock worth $3,328,000 after purchasing an additional 54,528 shares during the last quarter. Invesco Ltd. acquired a new position in Okeanis Eco Tankers in the 2nd quarter valued at about $613,000. Lighthouse Investment Partners LLC grew its stake in shares of Okeanis Eco Tankers by 13.5% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 46,816 shares of the company's stock valued at $1,017,000 after buying an additional 5,558 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at approximately $25,000. Finally, Semmax Financial Advisors Inc. increased its holdings in shares of Okeanis Eco Tankers by 8.2% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 132,545 shares of the company's stock worth $2,880,000 after buying an additional 10,016 shares during the last quarter.

Okeanis Eco Tankers Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.