Okeanis Eco Tankers: The Best Fleet Plus Generous Dividends; Rating Unchanged [Seeking Alpha]
Okeanis Eco Tankers Corp. (ECO)
Company Research
Source: Seeking Alpha
ECO realized 112% operating cash flow growth YoY. In FY23, the company delivered $155 million unlevered FCF or $5.41 FCF per share and 10.7% FCF yield. In 2023, ECO distributed $159 million among the shareholders, leading to a 14.2% TTM yield. ECO remains one of the best crude tanker stocks. Only the PNAV above 100% stops me from upgrading its rating to Strong Buy. I keep the ECO rating unchanged. Note: I previously covered Okeanis Eco tankers ( NYSE: ECO ) in February 2024. In my note, I highlighted the company's top-notch fleet, an average age below 5 years, and 100% scrubber availability. The ECO fleet consists of VLCC and Suezmax crude oil tankers. ECO distributes attractive dividends at a 14.2% TTM yield. Considering the company's strengths, I gave ECO a Buy rating. Today, I discuss 2023 figures, the crude oil market, and the company's valuation. Crude tankers market update ECO owns one of the best fleets in the tanker game. The company owns six Suezmax tankers and eig
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ECO
News
- Okeanis Eco Tankers Corp. – Invitation to Q1 2024 Results Conference Call and WebcastGlobeNewswire
- Meet The Greek Shipping Billionaires Getting Rich Off Russian Oil [Forbes]Forbes
- Okeanis Eco Tankers Corp. – Announcement of 2024 Annual Meeting of ShareholdersGlobeNewswire
- Okeanis Eco Tankers Corp. – Announcement of Availability of 2023 Annual Report on Form 20-FGlobeNewswire
- Okeanis Eco Tankers Corp. (NYSE: ECO) is now covered by analysts at B. Riley. They set a "buy" rating and a $38.00 price target on the stock.MarketBeat
ECO
Sec Filings
- 5/13/24 - Form 6-K
- 5/2/24 - Form 6-K
- 4/30/24 - Form 20-F
- ECO's page on the SEC website