Okeanis Eco Tankers (NYSE:ECO) Sees Strong Trading Volume – Here’s What Happened

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) saw an uptick in trading volume on Monday . 53,659 shares changed hands during mid-day trading, a decline of 28% from the previous session’s volume of 74,547 shares.The stock last traded at $24.14 and had previously closed at $23.21.

Okeanis Eco Tankers Stock Performance

The stock has a market capitalization of $783.28 million and a price-to-earnings ratio of 6.52. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.48 and a quick ratio of 1.23. The stock has a 50-day moving average of $30.40 and a 200 day moving average of $31.45.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.09 by $0.36. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.00%. The company had revenue of $84.93 million during the quarter, compared to analysts’ expectations of $74.61 million. On average, analysts expect that Okeanis Eco Tankers Corp. will post 3.19 EPS for the current year.

Okeanis Eco Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders 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 annualized dividend and a dividend yield of 7.40%. Okeanis Eco Tankers’s dividend payout ratio is currently 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wexford Capital LP grew its position in shares of 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 buying an additional 1,472 shares during the period. Jane Street Group LLC bought a new position in Okeanis Eco Tankers during the 3rd quarter worth approximately $206,000. Marshall Wace LLP acquired a new position in Okeanis Eco Tankers during the second quarter valued at approximately $247,000. PDT Partners LLC increased its stake in Okeanis Eco Tankers by 61.5% in the third 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 in the last quarter. Finally, BBR Partners LLC acquired a new stake in Okeanis Eco Tankers in the third 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.