Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO) gapped down prior to trading on Wednesday . The stock had previously closed at $22.53, but opened at $21.44. Okeanis Eco Tankers shares last traded at $21.74, with a volume of 79,718 shares.

Okeanis Eco Tankers Trading Up 9.6 %

The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34. The company has a market capitalization of $777.71 million and a P/E ratio of 6.66. The firm has a fifty day moving average price of $22.12 and a 200-day moving average price of $28.17.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.36. The firm had revenue of $84.93 million during the quarter, compared to the consensus estimate of $74.61 million. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. On average, equities research analysts anticipate that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.45%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio is 48.48%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Institutional investors and hedge funds have recently bought and sold shares of the company. Lighthouse Investment Partners LLC purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at $2,086,000. Quadrature Capital Ltd purchased a new stake in Okeanis Eco Tankers during the third quarter valued at about $1,169,000. BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 16,280 shares during the last quarter. Acadian Asset Management LLC bought a new position in Okeanis Eco Tankers during the second quarter worth about $370,000. Finally, Marshall Wace LLP purchased a new position in shares of Okeanis Eco Tankers in the second quarter worth about $247,000.

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.