Okeanis Eco Tankers (NYSE:ECO) Given New $40.00 Price Target at B. Riley

Okeanis Eco Tankers (NYSE:ECO) had its price target cut by B. Riley from $44.00 to $40.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock. B. Riley also issued estimates for Okeanis Eco Tankers’ Q4 2024 earnings at $0.22 EPS and FY2024 earnings at $3.13 EPS.

Okeanis Eco Tankers Trading Down 1.6 %

Shares of NYSE:ECO opened at $24.85 on Wednesday. The company’s 50-day moving average price is $22.06 and its two-hundred day moving average price is $27.96. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34. Okeanis Eco Tankers has a one year low of $18.79 and a one year high of $36.69. The stock has a market capitalization of $800.02 million and a PE ratio of 6.85.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.36. The company had revenue of $84.93 million for the quarter, compared to analysts’ expectations of $74.61 million. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. On average, equities analysts forecast that Okeanis Eco Tankers will post 3.19 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were paid a $0.45 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a yield of 7.24%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 48.48%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $206,000. Marshall Wace LLP acquired a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth approximately $247,000. BBR Partners LLC acquired a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $326,000. Acadian Asset Management LLC acquired a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth approximately $370,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $383,000.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.