Okeanis Eco Tankers (NYSE:ECO) Trading 2.5% Higher – Time to Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price shot up 2.5% during mid-day trading on Friday . The company traded as high as $22.49 and last traded at $22.47. 19,255 shares were traded during mid-day trading, a decline of 85% from the average session volume of 129,816 shares. The stock had previously closed at $21.92.

Wall Street Analysts Forecast Growth

Separately, B. Riley lowered their price objective on shares of Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

Okeanis Eco Tankers Price Performance

The company has a debt-to-equity ratio of 1.46, a current ratio of 1.64 and a quick ratio of 1.34. The company has a fifty day moving average price of $22.83 and a 200 day moving average price of $25.07. The company has a market capitalization of $726.39 million, a P/E ratio of 6.68 and a beta of 0.57.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.19. The firm had revenue of $85.19 million during the quarter, compared to the consensus estimate of $82.46 million. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%. On average, sell-side analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 6.20%. Okeanis Eco Tankers’s dividend payout ratio is presently 41.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. PDT Partners LLC boosted its position in shares of Okeanis Eco Tankers by 6.2% during the fourth quarter. PDT Partners LLC now owns 21,504 shares of the company’s stock worth $457,000 after buying an additional 1,250 shares during the period. Wexford Capital LP boosted its position 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 period. Citadel Advisors LLC grew its stake in shares of Okeanis Eco Tankers by 21.7% in the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company’s stock worth $279,000 after purchasing an additional 2,340 shares in the last quarter. Wells Fargo & Company MN acquired a new position in shares of Okeanis Eco Tankers during the fourth quarter valued at $78,000. Finally, Bank of America Corp DE raised its stake in shares of Okeanis Eco Tankers by 25.9% during the fourth quarter. Bank of America Corp DE now owns 23,307 shares of the company’s stock valued at $496,000 after purchasing an additional 4,798 shares in the last quarter.

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.