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

Okeanis Eco Tankers Corp. (NYSE:ECO) saw strong trading volume on Monday . 53,659 shares changed hands during 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 firm’s 50-day moving average price is $30.18 and its 200-day moving average price is $31.35. 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 market cap of $789.94 million and a P/E ratio of 6.76.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Friday, November 8th. The company reported $0.45 EPS for the quarter, beating 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 business had revenue of $84.93 million during the quarter, compared to the consensus estimate of $74.61 million. Sell-side analysts expect that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date of this dividend is Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 48.48%.

Institutional Trading of Okeanis Eco Tankers

A number of large investors have recently made changes to their positions in the business. Hsbc Holdings PLC grew its position in Okeanis Eco Tankers by 123.9% in the second quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock worth $5,692,000 after acquiring an additional 98,528 shares in the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at approximately $2,086,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Okeanis Eco Tankers in the 2nd quarter worth approximately $1,767,000. Quadrature Capital Ltd purchased a new stake in Okeanis Eco Tankers during the 3rd quarter valued at $1,169,000. Finally, BNP Paribas Financial Markets lifted its position in Okeanis Eco Tankers by 409.9% in the third quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock worth $661,000 after buying an additional 16,280 shares during 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.