Okeanis Eco Tankers (NYSE:ECO) Sees Large Volume Increase – Still a Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares saw unusually-high trading volume on Thursday . Approximately 146,594 shares traded hands during mid-day trading, an increase of 63% from the previous session’s volume of 90,200 shares.The stock last traded at $22.10 and had previously closed at $21.26.

Okeanis Eco Tankers Stock Up 4.8 %

The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 1.48. The business has a 50-day simple moving average of $22.88 and a two-hundred day simple moving average of $28.55. The stock has a market capitalization of $717.28 million and a P/E ratio of 6.14.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Friday, November 8th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.36. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. The business had revenue of $84.93 million for the quarter, compared to analyst estimates of $74.61 million. Equities research analysts forecast that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.08%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio is currently 48.48%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Okeanis Eco Tankers during the 3rd quarter valued at $383,000. Jane Street Group LLC acquired a new position in Okeanis Eco Tankers during the third quarter valued at approximately $206,000. Wexford Capital LP grew its holdings in Okeanis Eco Tankers by 7.1% during the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock valued at $728,000 after purchasing an additional 1,472 shares during the period. Quadrature Capital Ltd bought a new stake in Okeanis Eco Tankers in the third quarter valued at approximately $1,169,000. Finally, PDT Partners LLC boosted its position in shares of Okeanis Eco Tankers by 61.5% during the third quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock worth $663,000 after purchasing an additional 7,715 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.