Okeanis Eco Tankers Corp. (NYSE:ECO) Receives $37.00 Consensus Target Price from Brokerages

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $37.00.

Several equities research analysts have commented on ECO shares. B. Riley upped their price target on Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. UBS Group lowered shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Monday, December 29th. Finally, Clarkson Capital raised shares of Okeanis Eco Tankers to a “hold” rating in a research report on Friday, November 14th.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Okeanis Eco Tankers in the third quarter valued at about $29,000. BNP Paribas Financial Markets purchased a new position in Okeanis Eco Tankers in the 2nd quarter worth approximately $25,000. State of Wyoming grew its position in Okeanis Eco Tankers by 58.6% in the third quarter. State of Wyoming now owns 7,825 shares of the company’s stock valued at $229,000 after acquiring an additional 2,890 shares in the last quarter. Lighthouse Investment Partners LLC raised its stake in shares of Okeanis Eco Tankers by 11.0% during the third quarter. Lighthouse Investment Partners LLC now owns 51,965 shares of the company’s stock valued at $1,521,000 after purchasing an additional 5,149 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of Okeanis Eco Tankers during the third quarter worth $211,000.

Okeanis Eco Tankers Stock Performance

NYSE:ECO opened at $38.23 on Friday. Okeanis Eco Tankers has a fifty-two week low of $17.91 and a fifty-two week high of $39.77. The firm’s 50 day moving average is $35.39 and its two-hundred day moving average is $29.85. The company has a market cap of $1.23 billion, a P/E ratio of 16.00 and a beta of 0.05. The company has a quick ratio of 1.69, a current ratio of 2.00 and a debt-to-equity ratio of 1.33.

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

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd were issued a $0.75 dividend. The ex-dividend date was Tuesday, December 2nd. This represents a $3.00 annualized dividend and a yield of 7.8%. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. Okeanis Eco Tankers’s payout ratio is currently 125.52%.

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.