Okeanis Eco Tankers Corp. (NYSE:ECO) Receives $59.52 Average Target Price from Analysts

Okeanis Eco Tankers Corp. (NYSE:ECO) has been given an average rating of “Moderate Buy” by the six ratings firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $59.5167.

Several analysts have recently commented on the company. Zacks Research raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Weiss Ratings raised Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Pareto Securities cut Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective for the company. in a research report on Monday, May 25th. Finally, Wall Street Zen raised Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th.

Insider Activity

In other news, Director Financial Lp Qvt sold 68,420 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $59.99, for a total value of $4,104,515.80. Following the completion of the transaction, the director owned 1,347,038 shares in the company, valued at $80,808,809.62. This trade represents a 4.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC purchased a new position in Okeanis Eco Tankers in the second quarter valued at about $149,000. Allianz Asset Management GmbH purchased a new stake in shares of Okeanis Eco Tankers during the 2nd quarter worth approximately $1,506,000. Triumph Capital Management grew its holdings in shares of Okeanis Eco Tankers by 1.6% in the 2nd quarter. Triumph Capital Management now owns 20,112 shares of the company’s stock worth $1,008,000 after acquiring an additional 312 shares during the period. BTG Pactual Asset Management US LLC acquired a new stake in shares of Okeanis Eco Tankers in the 2nd quarter worth approximately $1,608,000. Finally, Navellier & Associates Inc. grew its holdings in shares of Okeanis Eco Tankers by 25.1% in the 2nd quarter. Navellier & Associates Inc. now owns 24,815 shares of the company’s stock worth $1,244,000 after acquiring an additional 4,976 shares during the period.

Okeanis Eco Tankers Trading Up 3.7%

Shares of Okeanis Eco Tankers stock opened at $82.70 on Friday. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 7.71 and a beta of -0.11. Okeanis Eco Tankers has a 52-week low of $27.74 and a 52-week high of $83.27. The company’s 50-day simple moving average is $62.92 and its 200-day simple moving average is $55.38. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76.

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

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were paid a dividend of $5.25 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Friday, August 14th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 25.4%. Okeanis Eco Tankers’s dividend payout ratio is currently 195.90%.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates a fleet of oceangoing tankers. The company primarily transports crude oil and refined petroleum products for energy companies, commodity traders and other commercial customers in international markets.

Its fleet is focused on large, modern and fuel-efficient vessels, including very large crude carriers (VLCCs), Suezmax crude oil tankers and large range 2 (LR2) product tankers. The company emphasizes environmentally efficient vessel designs and operational practices intended to reduce fuel consumption and emissions while serving global seaborne energy trade.

Okeanis Eco Tankers was established in 2018 and became publicly listed on the New York Stock Exchange in 2019 under the symbol ECO.