Okeanis Eco Tankers (NYSE:ECO) Trading Up 4.9% – Here’s Why

Okeanis Eco Tankers Corp. (NYSE:ECO) was up 4.9% during trading on Monday . The company traded as high as $19.94 and last traded at $19.75. Approximately 77,563 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 87,810 shares. The stock had previously closed at $18.83.

Okeanis Eco Tankers Stock Performance

The firm has a market capitalization of $657.08 million and a PE ratio of 5.62. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69. The business’s fifty day simple moving average is $24.57 and its 200-day simple moving average is $29.16.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.36. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. The company had revenue of $84.93 million during the quarter, compared to analyst estimates of $74.61 million. As a group, equities research analysts expect that Okeanis Eco Tankers Corp. will post 3.19 EPS for the current year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were given a dividend of $0.45 per share. The ex-dividend date was Monday, November 18th. This represents a $1.80 annualized dividend and a yield of 8.82%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in Okeanis Eco Tankers in the 3rd quarter worth about $206,000. Marshall Wace LLP purchased a new position in Okeanis Eco Tankers during the 2nd quarter worth $247,000. BBR Partners LLC bought a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth $326,000. Acadian Asset Management LLC bought a new stake in shares of Okeanis Eco Tankers in the second quarter valued at about $370,000. Finally, Public Employees Retirement System of Ohio bought a new position in Okeanis Eco Tankers during the 3rd quarter worth about $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.