Okeanis Eco Tankers (NYSE:ECO – Get Free Report) was downgraded by Clarkson Capital from a “strong-buy” rating to a “hold” rating in a report released on Friday,Zacks.com reports.
Several other research analysts have also recently weighed in on ECO. B. Riley Financial boosted their price target on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday. Wall Street Zen downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings lowered Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 25th. Finally, Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Okeanis Eco Tankers presently has a consensus rating of “Hold” and a consensus target price of $50.02.
Check Out Our Latest Research Report on ECO
Okeanis Eco Tankers Trading Up 0.8%
Okeanis Eco Tankers (NYSE:ECO – Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.59. The company had revenue of $170.17 million during the quarter, compared to analyst estimates of $134.02 million. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. On average, equities research analysts expect that Okeanis Eco Tankers will post 4.35 EPS for the current fiscal year.
Institutional Trading of Okeanis Eco Tankers
A number of hedge funds have recently bought and sold shares of ECO. Encompass Capital Advisors LLC purchased a new stake in Okeanis Eco Tankers during the fourth quarter valued at $27,416,000. Fearnley Asset Management AS purchased a new stake in Okeanis Eco Tankers during the fourth quarter valued at $18,696,000. Marshall Wace LLP bought a new position in shares of Okeanis Eco Tankers in the 4th quarter worth approximately $10,911,000. JPMorgan Chase & Co. bought a new position in shares of Okeanis Eco Tankers in the 4th quarter worth approximately $5,222,000. Finally, Millennium Management LLC lifted its stake in shares of Okeanis Eco Tankers by 647.5% in the 4th quarter. Millennium Management LLC now owns 124,109 shares of the company’s stock worth $4,200,000 after purchasing an additional 107,505 shares during the period.
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.
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