Okeanis Eco Tankers (NYSE:ECO) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) saw unusually-strong trading volume on Friday . Approximately 224,839 shares were traded during trading, a decline of 4% from the previous session’s volume of 233,363 shares.The stock last traded at $23.66 and had previously closed at $22.05.

Okeanis Eco Tankers Stock Up 9.6 %

The stock has a market capitalization of $777.71 million and a price-to-earnings ratio of 6.66. The firm has a 50-day moving average of $22.08 and a 200 day moving average of $28.09. 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 (NYSE:ECO) last released 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. The business had revenue of $84.93 million during 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%. As a group, sell-side 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 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 of this dividend was Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a yield of 7.45%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 48.48%.

Institutional Trading of Okeanis Eco Tankers

Several hedge funds have recently added to or reduced their stakes in ECO. Hsbc Holdings PLC boosted its stake in Okeanis Eco Tankers by 123.9% in the second quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock valued at $5,692,000 after buying an additional 98,528 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Okeanis Eco Tankers in the second quarter valued at approximately $2,086,000. Skandinaviska Enskilda Banken AB publ bought a new position in Okeanis Eco Tankers in the 2nd quarter valued at approximately $1,767,000. Quadrature Capital Ltd acquired a new stake in Okeanis Eco Tankers during the 3rd quarter worth approximately $1,169,000. Finally, Wexford Capital LP grew its holdings in Okeanis Eco Tankers by 7.1% during the 3rd quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock worth $728,000 after acquiring an additional 1,472 shares during the last quarter.

Okeanis Eco Tankers Company Profile

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.