Okeanis Eco Tankers (NYSE:ECO) Sees Strong Trading Volume After Dividend Announcement

Okeanis Eco Tankers Corp. (NYSE:ECO) saw strong trading volume on Friday following a dividend announcement from the company. 481,258 shares changed hands during trading, an increase of 95% from the previous session’s volume of 246,729 shares.The stock last traded at $21.99 and had previously closed at $22.44.

The newly announced dividend which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.40%. The ex-dividend date of this dividend is Monday, March 3rd. Okeanis Eco Tankers’s payout ratio is presently 52.07%.

Wall Street Analysts Forecast Growth

Separately, B. Riley decreased their target price 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 Stock Down 2.5 %

The company has a debt-to-equity ratio of 1.46, a current ratio of 1.64 and a quick ratio of 1.34. The firm has a market cap of $704.32 million and a price-to-earnings ratio of 6.47. The firm has a 50 day moving average price of $22.77 and a 200-day moving average price of $26.62.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.41 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $82.46 million. As a group, equities analysts predict that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several large investors have recently made changes to their positions in the company. PDT Partners LLC lifted its stake in shares of Okeanis Eco Tankers by 6.2% during the fourth quarter. PDT Partners LLC now owns 21,504 shares of the company’s stock valued at $457,000 after acquiring an additional 1,250 shares during the period. Wexford Capital LP lifted its stake in shares of Okeanis Eco Tankers by 7.1% during the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock valued at $728,000 after acquiring an additional 1,472 shares during the period. Citadel Advisors LLC lifted its stake in shares of 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 acquiring an additional 2,340 shares during the period. Wells Fargo & Company MN acquired a new position in shares of Okeanis Eco Tankers during the fourth quarter valued at $78,000. Finally, Bank of America Corp DE increased its holdings in Okeanis Eco Tankers by 25.9% in the fourth quarter. Bank of America Corp DE now owns 23,307 shares of the company’s stock valued at $496,000 after purchasing an additional 4,798 shares during 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.