Okeanis Eco Tankers Corp. (NYSE:ECO – Get Free Report)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $51.19, but opened at $49.02. Okeanis Eco Tankers shares last traded at $48.1240, with a volume of 76,328 shares trading hands.
Analysts Set New Price Targets
Several research analysts recently issued reports on ECO shares. Wall Street Zen lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 25th. B. Riley Financial upped their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 15th. Clarkson Capital downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Pareto Securities downgraded Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target on the stock. in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Okeanis Eco Tankers has an average rating of “Moderate Buy” and a consensus price target of $51.89.
Read Our Latest Stock Analysis on Okeanis Eco Tankers
Okeanis Eco Tankers Trading Down 1.8%
Okeanis Eco Tankers (NYSE:ECO – Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.59. The firm had revenue of $170.17 million for the quarter, compared to the consensus estimate of $134.02 million. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. As a group, sell-side analysts anticipate that Okeanis Eco Tankers Corp. will post 9.53 EPS for the current fiscal year.
Okeanis Eco Tankers Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Thursday, May 28th will be issued a $2.00 dividend. The ex-dividend date is Thursday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 16.9%. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 141.34%.
Hedge Funds Weigh In On Okeanis Eco Tankers
A number of hedge funds have recently added to or reduced their stakes in ECO. Encompass Capital Advisors LLC purchased a new stake in shares of Okeanis Eco Tankers in the fourth quarter worth approximately $27,416,000. FIL Ltd lifted its holdings in shares of Okeanis Eco Tankers by 17.2% in the fourth quarter. FIL Ltd now owns 574,182 shares of the company’s stock valued at $19,339,000 after purchasing an additional 84,130 shares in the last quarter. Fearnley Asset Management AS purchased a new position in shares of Okeanis Eco Tankers during the fourth quarter valued at approximately $18,696,000. Marshall Wace LLP bought a new stake in Okeanis Eco Tankers during the fourth quarter worth $10,911,000. Finally, Bank of America Corp DE grew its holdings in Okeanis Eco Tankers by 96.7% during the first quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock worth $14,079,000 after buying an additional 136,782 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.
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