Okeanis Eco Tankers (NYSE:ECO) Sees Large Volume Increase – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO) saw an uptick in trading volume on Friday . 54,837 shares traded hands during trading, a decline of 30% from the previous session’s volume of 77,991 shares.The stock last traded at $22.08 and had previously closed at $22.08.

Okeanis Eco Tankers Price Performance

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 firm’s fifty day moving average price is $28.83 and its two-hundred day moving average price is $30.89. The stock has a market capitalization of $711.40 million and a PE ratio of 6.08.

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

Okeanis Eco Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a yield of 8.14%. Okeanis Eco Tankers’s dividend payout ratio is currently 48.48%.

Institutional Trading of Okeanis Eco Tankers

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