Okeanis Eco Tankers (NYSE:ECO) Reaches New 1-Year Low – Here’s Why

Okeanis Eco Tankers Corp. (NYSE:ECO) shares reached a new 52-week low on Tuesday . The stock traded as low as $20.89 and last traded at $20.91, with a volume of 88716 shares traded. The stock had previously closed at $21.02.

Okeanis Eco Tankers Stock Down 0.8 %

The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69. The firm has a market capitalization of $671.16 million and a P/E ratio of 5.74. The firm’s 50-day moving average is $27.27 and its 200 day moving average is $30.19.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.36. The firm had revenue of $84.93 million for the quarter, compared to analysts’ expectations of $74.61 million. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. As a group, equities research analysts predict that Okeanis Eco Tankers Corp. will post 3.19 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. Shareholders of record on Monday, November 18th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a yield of 8.63%. Okeanis Eco Tankers’s payout ratio is 48.48%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ECO. Lighthouse Investment Partners LLC purchased a new position in Okeanis Eco Tankers in the 2nd quarter valued at approximately $2,086,000. Quadrature Capital Ltd purchased a new stake in shares of Okeanis Eco Tankers in the third quarter valued at about $1,169,000. Acadian Asset Management LLC purchased a new position in Okeanis Eco Tankers in the second quarter valued at about $370,000. Marshall Wace LLP purchased a new position in shares of Okeanis Eco Tankers in the second quarter valued at $247,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Okeanis Eco Tankers during the second quarter worth about $1,767,000.

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.