Okeanis Eco Tankers (NYSE:ECO – Get Free Report) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.
Several other research firms have also weighed in on ECO. B. Riley Financial lifted their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Clarkson Capital downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Pareto Securities lowered shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price on the stock. in a report on Monday, May 25th. Finally, Weiss Ratings raised shares of Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Okeanis Eco Tankers has an average rating of “Moderate Buy” and an average price target of $59.52.
Okeanis Eco Tankers Stock Up 3.4%
Okeanis Eco Tankers (NYSE:ECO – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $1.30. The firm had revenue of $268.14 million during the quarter, compared to analysts’ expectations of $220.28 million. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. As a group, sell-side analysts predict that Okeanis Eco Tankers will post 15.33 EPS for the current fiscal year.
Hedge Funds Weigh In On Okeanis Eco Tankers
Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in Okeanis Eco Tankers in the second quarter valued at $25,000. Fifth Third Bancorp acquired a new position in shares of Okeanis Eco Tankers during the 1st quarter worth about $29,000. Quarry LP acquired a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth about $29,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Okeanis Eco Tankers by 102.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after purchasing an additional 532 shares during the period. Finally, State of Wyoming bought a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at 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.
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