Okeanis Eco Tankers (NYSE:ECO) Reaches New 12-Month High – Still a Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $57.29 and last traded at $54.7660, with a volume of 572665 shares. The stock had previously closed at $54.05.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Clarkson Capital raised Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price on the stock in a research note on Tuesday, January 27th. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Wall Street Zen upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Monday, December 29th. Finally, UBS Group lowered Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.35.

Okeanis Eco Tankers Stock Up 2.9%

The stock has a market capitalization of $1.79 billion, a P/E ratio of 14.82 and a beta of 0.04. The stock has a 50 day moving average price of $39.95 and a 200-day moving average price of $34.71. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.41 and a quick ratio of 3.16.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly 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. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%.The business had revenue of $91.33 million for the quarter, compared to analyst estimates of $98.45 million. As a group, research analysts expect that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, March 3rd will be issued a dividend of $1.55 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $6.20 dividend on an annualized basis and a yield of 11.1%. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 165.78%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Hedge funds have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Okeanis Eco Tankers during the third quarter worth about $29,000. BNP Paribas Financial Markets bought a new position in Okeanis Eco Tankers during the 2nd quarter valued at approximately $25,000. State of Wyoming purchased a new stake in Okeanis Eco Tankers in the 2nd quarter worth approximately $107,000. Verition Fund Management LLC purchased a new stake in Okeanis Eco Tankers in the 3rd quarter worth approximately $211,000. Finally, S.E.E.D. Planning Group LLC bought a new stake in shares of Okeanis Eco Tankers in the 3rd quarter worth approximately $234,000.

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.