Okeanis Eco Tankers (NYSE:ECO) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of Okeanis Eco Tankers (NYSE:ECO) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. B. Riley Financial raised their price objective on shares of Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Weiss Ratings downgraded shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 25th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 29th. Finally, Clarkson Capital raised shares of Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price target on the stock in a report on Tuesday, January 27th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Okeanis Eco Tankers currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.35.

Okeanis Eco Tankers Stock Performance

Shares of ECO traded down $1.99 on Monday, reaching $49.09. The company’s stock had a trading volume of 172,170 shares, compared to its average volume of 499,500. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 1.39. The stock has a market capitalization of $1.92 billion, a P/E ratio of 13.13 and a beta of -0.07. The stock’s 50 day simple moving average is $48.84 and its two-hundred day simple moving average is $40.21. Okeanis Eco Tankers has a 12-month low of $21.27 and a 12-month high of $57.29.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings data 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. The company had revenue of $91.33 million for the quarter, compared to the consensus estimate of $98.45 million. Okeanis Eco Tankers had a net margin of 31.40% and a return on equity of 26.63%. Research analysts forecast that Okeanis Eco Tankers will post 4.35 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, March 3rd were issued a dividend of $1.55 per share. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. This represents a $6.20 annualized dividend and a yield of 12.6%. The ex-dividend date of this dividend was Tuesday, March 3rd. Okeanis Eco Tankers’s payout ratio is presently 165.78%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several large investors have recently added to or reduced their stakes in ECO. BNP Paribas Financial Markets bought a new stake in shares of Okeanis Eco Tankers during the second quarter valued at approximately $25,000. Quarry LP bought a new stake in shares of Okeanis Eco Tankers during the third quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd raised its position in shares of 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 last quarter. State of Wyoming bought a new stake in shares of Okeanis Eco Tankers during the second quarter valued at approximately $107,000. Finally, Verition Fund Management LLC bought a new stake in shares of Okeanis Eco Tankers during the third quarter valued at approximately $211,000.

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.