Okeanis Eco Tankers (NYSE:ECO) Reaches New 1-Year Low – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $22.80 and last traded at $23.00, with a volume of 89704 shares trading hands. The stock had previously closed at $23.58.

Okeanis Eco Tankers Price Performance

The stock has a market capitalization of $710.76 million and a price-to-earnings ratio of 6.01. 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 company has a 50 day moving average of $29.29 and a 200 day moving average of $31.02.

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. The business had revenue of $84.93 million during the quarter, compared to the consensus estimate of $74.61 million. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. As a group, equities research analysts forecast that Okeanis Eco Tankers Corp. will post 3.19 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.15%. The ex-dividend date is Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio is currently 48.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECO. Jane Street Group LLC purchased a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at about $206,000. Marshall Wace LLP bought a new position in shares of Okeanis Eco Tankers during the second quarter valued at $247,000. BBR Partners LLC acquired a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth about $326,000. Acadian Asset Management LLC bought a new stake in Okeanis Eco Tankers in the 2nd quarter valued at $370,000. Finally, Public Employees Retirement System of Ohio bought a new position in Okeanis Eco Tankers in the third quarter valued at about $383,000.

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.