Brokerages Set Okeanis Eco Tankers Corp. (NYSE:ECO) Price Target at $43.35

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have received a consensus rating of “Buy” from the six research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $43.35.

Several analysts have issued reports on ECO shares. Weiss Ratings upgraded Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Clarkson Capital upgraded shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 target price for the company in a report on Tuesday, January 27th. Wall Street Zen downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Finally, B. Riley Financial upped 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.

Okeanis Eco Tankers Stock Performance

ECO opened at $46.27 on Friday. The company has a quick ratio of 3.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.97. The firm has a market cap of $1.81 billion, a PE ratio of 12.37 and a beta of -0.30. The business has a fifty day simple moving average of $44.13 and a 200-day simple moving average of $36.96. Okeanis Eco Tankers has a fifty-two week low of $17.91 and a fifty-two week high of $57.29.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $91.33 million for the quarter, compared to analyst estimates of $98.45 million. As a group, equities analysts predict that Okeanis Eco Tankers will post 1.34 EPS 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 paid a dividend of $1.55 per share. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $6.20 annualized dividend and a yield of 13.4%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 165.78%.

Institutional Trading of Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently modified their holdings of ECO. Caitong International Asset Management Co. Ltd raised its position in Okeanis Eco Tankers by 102.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after buying an additional 532 shares during the period. Quarry LP acquired a new stake in Okeanis Eco Tankers during the 3rd quarter worth about $29,000. BNP Paribas Financial Markets acquired a new stake in Okeanis Eco Tankers during the 2nd quarter worth about $25,000. Verition Fund Management LLC grew its stake in Okeanis Eco Tankers by 22.1% during the 4th quarter. Verition Fund Management LLC now owns 8,784 shares of the company’s stock valued at $297,000 after acquiring an additional 1,591 shares in the last quarter. Finally, State of Wyoming grew its stake in Okeanis Eco Tankers by 58.6% during the 3rd 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.

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.