Okeanis Eco Tankers (NYSE:ECO) Sets New 52-Week High – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $39.92 and last traded at $39.6250, with a volume of 86475 shares. The stock had previously closed at $38.80.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. UBS Group downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Clarkson Capital upgraded shares of Okeanis Eco Tankers to a “hold” rating in a research note on Friday, November 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Okeanis Eco Tankers Price Performance

The company has a current ratio of 2.00, a quick ratio of 1.69 and a debt-to-equity ratio of 1.33. The stock has a 50 day simple moving average of $35.53 and a 200-day simple moving average of $30.17. The firm has a market cap of $1.22 billion, a PE ratio of 16.65 and a beta of 0.05.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.48. The firm had revenue of $90.60 million during the quarter, compared to analyst estimates of $51.29 million. Okeanis Eco Tankers had a return on equity of 18.05% and a net margin of 21.92%. Equities analysts anticipate that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, December 2nd were issued a dividend of $0.75 per share. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $3.00 dividend on an annualized basis and a yield of 7.5%. Okeanis Eco Tankers’s payout ratio is 125.52%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in Okeanis Eco Tankers in the 3rd quarter valued at $29,000. BNP Paribas Financial Markets purchased a new position in shares of Okeanis Eco Tankers during the second quarter valued at about $25,000. State of Wyoming grew its position in shares of Okeanis Eco Tankers by 58.6% during the third quarter. State of Wyoming now owns 7,825 shares of the company’s stock valued at $229,000 after purchasing an additional 2,890 shares in the last quarter. Lighthouse Investment Partners LLC increased its holdings in shares of Okeanis Eco Tankers by 11.0% in the third quarter. Lighthouse Investment Partners LLC now owns 51,965 shares of the company’s stock worth $1,521,000 after purchasing an additional 5,149 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Okeanis Eco Tankers in the third quarter worth about $211,000.

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.