Okeanis Eco Tankers (NYSE:ECO) Shares Gap Up – Here’s Why

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $22.35, but opened at $22.97. Okeanis Eco Tankers shares last traded at $22.97, with a volume of 27,067 shares traded.

Analyst Upgrades and Downgrades

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

Okeanis Eco Tankers Trading Up 0.8 %

The business has a fifty day moving average price of $23.07 and a 200 day moving average price of $25.43. The company has a market capitalization of $757.52 million, a PE ratio of 6.96 and a beta of 0.57. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.34 and a current ratio of 1.64.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $85.19 million for the quarter, compared to the consensus estimate of $82.46 million. Analysts expect that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.95%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 41.42%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Large investors have recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new stake in shares of Okeanis Eco Tankers in the third quarter valued at about $1,169,000. BNP Paribas Financial Markets grew its stake 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 valued at $661,000 after purchasing an additional 16,280 shares in the last quarter. Jane Street Group LLC acquired a new stake in Okeanis Eco Tankers during the 3rd quarter valued at approximately $206,000. Public Employees Retirement System of Ohio acquired a new stake in Okeanis Eco Tankers during the 3rd quarter valued at approximately $383,000. Finally, Wexford Capital LP grew its stake in Okeanis Eco Tankers by 7.1% during the 3rd 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 in the last quarter.

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.