Okeanis Eco Tankers (NYSE:ECO) Reaches New 1-Year High – Should You Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $57.49 and last traded at $57.3080, with a volume of 155142 shares trading hands. The stock had previously closed at $55.39.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ECO shares. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 29th. Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. B. Riley Financial lifted their price target on shares of Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Clarkson Capital raised shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price target for the company in a research report on Tuesday, January 27th. Finally, Weiss Ratings cut shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 25th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Okeanis Eco Tankers presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.35.

Okeanis Eco Tankers Price Performance

The company has a quick ratio of 1.39, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $2.22 billion, a PE ratio of 15.23 and a beta of 0.09. The firm’s fifty day simple moving average is $50.21 and its 200-day simple moving average is $41.41.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.48. The business had revenue of $91.33 million during the quarter, compared to analysts’ expectations of $98.45 million. Okeanis Eco Tankers had a net margin of 31.40% and a return on equity of 26.63%. On average, research analysts forecast that Okeanis Eco Tankers Corp. will post 4.35 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, March 3rd were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 10.9%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, March 3rd. Okeanis Eco Tankers’s dividend payout ratio is presently 165.78%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ECO. Militia Capital Partners LP bought a new stake in shares of Okeanis Eco Tankers in the third quarter worth approximately $1,024,000. SG Americas Securities LLC grew its stake in shares of Okeanis Eco Tankers by 5.4% in the third quarter. SG Americas Securities LLC now owns 443,695 shares of the company’s stock worth $12,987,000 after acquiring an additional 22,906 shares during the period. Quantbot Technologies LP bought a new stake in shares of Okeanis Eco Tankers in the third quarter worth approximately $344,000. Centiva Capital LP bought a new stake in shares of Okeanis Eco Tankers in the third quarter worth approximately $259,000. Finally, State of Wyoming grew its stake in shares of Okeanis Eco Tankers by 58.6% in the third quarter. State of Wyoming now owns 7,825 shares of the company’s stock worth $229,000 after acquiring an additional 2,890 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.