Okeanis Eco Tankers (NYSE:ECO) Trading Down 4.5% – Here’s Why

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price was down 4.5% on Friday . The company traded as low as $22.79 and last traded at $22.50. Approximately 59,019 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 272,308 shares. The stock had previously closed at $23.55.

Wall Street Analyst Weigh In

Separately, B. Riley dropped their target price on Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th.

Okeanis Eco Tankers Stock Down 3.7 %

The stock has a fifty day simple moving average of $22.00 and a two-hundred day simple moving average of $27.65. The firm has a market cap of $730.23 million and a PE ratio of 6.25. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 1.48.

Okeanis Eco Tankers (NYSE:ECO) last posted its 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 for the quarter, compared to analyst estimates of $74.61 million. As a group, sell-side analysts expect that Okeanis Eco Tankers Corp. will post 3.13 EPS for the current fiscal 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 given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.93%. The ex-dividend date was Monday, November 18th. Okeanis Eco Tankers’s payout ratio is 48.48%.

Institutional Trading of Okeanis Eco Tankers

Several institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC bought a new position in shares of Okeanis Eco Tankers in the third quarter worth approximately $206,000. Marshall Wace LLP purchased a new stake in Okeanis Eco Tankers in the second quarter worth about $247,000. BBR Partners LLC bought a new stake in shares of Okeanis Eco Tankers during the third quarter valued at approximately $326,000. Public Employees Retirement System of Ohio purchased a new stake in Okeanis Eco Tankers in the third quarter worth $383,000. Finally, BNP Paribas Financial Markets lifted its position in Okeanis Eco Tankers by 409.9% during the third quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock valued at $661,000 after buying an additional 16,280 shares during the period.

Okeanis Eco Tankers Company Profile

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.