Okeanis Eco Tankers (NYSE:ECO) Shares Gap Up – Time to Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO) gapped up prior to trading on Tuesday . The stock had previously closed at $20.71, but opened at $21.99. Okeanis Eco Tankers shares last traded at $22.13, with a volume of 114,835 shares.

Okeanis Eco Tankers Stock Performance

The company has a market capitalization of $715.35 million and a P/E ratio of 6.12. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34. The stock’s 50 day simple moving average is $22.43 and its two-hundred day simple moving average is $28.32.

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

Okeanis Eco Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.10%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s payout ratio is 48.48%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Lighthouse Investment Partners LLC bought a new position in Okeanis Eco Tankers during the second quarter worth about $2,086,000. Quadrature Capital Ltd bought a new position in Okeanis Eco Tankers during the 3rd quarter worth approximately $1,169,000. BNP Paribas Financial Markets raised its holdings in Okeanis Eco Tankers by 409.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock worth $661,000 after purchasing an additional 16,280 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at $370,000. Finally, Marshall Wace LLP bought a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at $247,000.

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.