Okeanis Eco Tankers (NYSE:ECO) Sets New 52-Week High – Time to Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $66.79 and last traded at $66.08, with a volume of 287499 shares traded. The stock had previously closed at $62.28.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings downgraded Okeanis Eco Tankers from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. B. Riley Financial increased their price objective on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 15th. Pareto Securities downgraded Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective on the stock. in a research note on Monday, May 25th. Finally, Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Okeanis Eco Tankers has an average rating of “Moderate Buy” and a consensus target price of $59.52.

Okeanis Eco Tankers Stock Up 5.9%

The company has a debt-to-equity ratio of 0.76, a current ratio of 4.43 and a quick ratio of 4.13. The firm has a market capitalization of $2.58 billion, a P/E ratio of 6.13 and a beta of -0.15. The business has a 50 day moving average price of $57.57 and a 200 day moving average price of $52.76.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share for the quarter, beating the consensus estimate of $4.61 by $1.30. The firm had revenue of $268.14 million during the quarter, compared to the consensus estimate of $220.28 million. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. On average, analysts predict that Okeanis Eco Tankers Corp. will post 15.33 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 31.8%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, August 14th. Okeanis Eco Tankers’s dividend payout ratio is presently 195.90%.

Insider Buying and Selling at Okeanis Eco Tankers

In other news, Director Financial Lp Qvt sold 68,420 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $59.99, for a total value of $4,104,515.80. Following the completion of the sale, the director directly owned 1,347,038 shares of the company’s stock, valued at approximately $80,808,809.62. This represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Okeanis Eco Tankers

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new position in Okeanis Eco Tankers during the 2nd quarter valued at $25,000. Fifth Third Bancorp acquired a new stake in Okeanis Eco Tankers in the 1st quarter worth $29,000. Quarry LP acquired a new stake in Okeanis Eco Tankers in the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Okeanis Eco Tankers by 102.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after purchasing an additional 532 shares during the period. Finally, State of Wyoming bought a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth about $107,000.

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.