Okeanis Eco Tankers (NYSE:ECO) Shares Gap Up – Still a Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $20.37, but opened at $21.18. Okeanis Eco Tankers shares last traded at $21.34, with a volume of 40,074 shares changing hands.

Wall Street Analyst Weigh In

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

Okeanis Eco Tankers Trading Up 2.2 %

The stock has a market capitalization of $700.12 million and a PE ratio of 6.43. The stock has a 50 day moving average price of $22.99 and a 200-day moving average price of $25.97. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 1.46.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.19. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%. The business had revenue of $85.19 million during the quarter, compared to analysts’ expectations of $82.46 million. Sell-side analysts expect that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 6.44%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 41.42%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN purchased a new stake in Okeanis Eco Tankers in the fourth quarter valued at about $78,000. Jane Street Group LLC purchased a new position in Okeanis Eco Tankers during the 3rd quarter worth approximately $206,000. B. Riley Wealth Advisors Inc. acquired a new stake in Okeanis Eco Tankers during the 4th quarter valued at approximately $213,000. Aristides Capital LLC purchased a new stake in shares of Okeanis Eco Tankers in the 4th quarter valued at $227,000. Finally, Citadel Advisors LLC lifted its position in Okeanis Eco Tankers by 21.7% during the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company’s stock valued at $279,000 after purchasing an additional 2,340 shares during the period.

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.