Okeanis Eco Tankers (NYSE:ECO) Trading 1.5% Higher – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO) was up 1.5% during trading on Monday . The company traded as high as $19.00 and last traded at $18.81. Approximately 77,686 shares traded hands during trading, a decline of 42% from the average daily volume of 134,434 shares. The stock had previously closed at $18.54.

Wall Street Analyst Weigh In

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 report on Wednesday, January 15th.

Okeanis Eco Tankers Price Performance

The firm has a fifty day moving average of $22.39 and a two-hundred day moving average of $24.38. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $649.03 million, a PE ratio of 5.96 and a beta of 0.04.

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

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 6.94%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 41.42%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Hedge funds and other institutional investors have recently modified their holdings of the stock. PDT Partners LLC lifted its holdings in Okeanis Eco Tankers by 6.2% in 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. Citadel Advisors LLC boosted its position in shares of Okeanis Eco Tankers by 21.7% in the 4th 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 purchased a new stake in shares of Okeanis Eco Tankers in the fourth quarter worth $78,000. Bank of America Corp DE raised its position in shares of Okeanis Eco Tankers by 25.9% in the 4th quarter. Bank of America Corp DE now owns 23,307 shares of the company’s stock worth $496,000 after purchasing an additional 4,798 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Okeanis Eco Tankers during the 3rd quarter valued at about $206,000.

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.