Okeanis Eco Tankers (NYSE:ECO) Trading Down 3.8% – Here’s Why

Okeanis Eco Tankers Corp. (NYSE:ECO) shares traded down 3.8% during mid-day trading on Thursday . The company traded as low as $23.15 and last traded at $23.15. 154,559 shares changed hands during trading, an increase of 104% from the average session volume of 75,826 shares. The stock had previously closed at $24.07.

Okeanis Eco Tankers Stock Up 1.3 %

The firm has a market capitalization of $760.65 million and a P/E ratio of 6.51. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 1.37. The stock’s 50-day simple moving average is $29.72 and its 200-day simple moving average is $31.18.

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 analysts’ consensus estimates of $0.09 by $0.36. The firm had revenue of $84.93 million for 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 27.00%. As a group, research analysts predict that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be paid a $0.45 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.80 annualized dividend and a dividend yield of 7.62%. Okeanis Eco Tankers’s payout ratio is presently 48.48%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in shares of Okeanis Eco Tankers in the third quarter worth $206,000. Marshall Wace LLP bought a new position in shares of Okeanis Eco Tankers in the second quarter valued at approximately $247,000. BBR Partners LLC purchased a new stake in Okeanis Eco Tankers in the 3rd quarter worth approximately $326,000. Acadian Asset Management LLC bought a new position in Okeanis Eco Tankers in the 2nd quarter valued at $370,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Okeanis Eco Tankers during the 3rd quarter valued at $383,000.

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.