Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $22.04, but opened at $21.30. Okeanis Eco Tankers shares last traded at $21.47, with a volume of 73,745 shares trading hands.

Okeanis Eco Tankers Stock Performance

The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34. The stock has a fifty day moving average price of $28.83 and a two-hundred day moving average price of $30.89. The company has a market cap of $710.76 million and a P/E ratio of 6.08.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Friday, November 8th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $84.93 million for the quarter, compared to the consensus estimate of $74.61 million. On average, equities analysts forecast that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be given a $0.45 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a yield of 8.15%. Okeanis Eco Tankers’s dividend payout ratio is presently 48.48%.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in ECO. Wexford Capital LP increased its stake in shares of Okeanis Eco Tankers by 7.1% during the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock valued at $728,000 after acquiring an additional 1,472 shares during the period. Jane Street Group LLC bought a new position in Okeanis Eco Tankers during the 3rd quarter valued at $206,000. Marshall Wace LLP bought a new position in Okeanis Eco Tankers during the 2nd quarter valued at $247,000. PDT Partners LLC increased its position in shares of Okeanis Eco Tankers by 61.5% during the 3rd quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock valued at $663,000 after purchasing an additional 7,715 shares during the period. Finally, BBR Partners LLC bought a new stake in shares of Okeanis Eco Tankers in the 3rd quarter worth $326,000.

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.