Okeanis Eco Tankers (NYSE:ECO) Shares Up 4.9% – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price rose 4.9% during mid-day trading on Monday . The company traded as high as $19.94 and last traded at $19.75. Approximately 77,563 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 87,810 shares. The stock had previously closed at $18.83.

Okeanis Eco Tankers Trading Up 8.4 %

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 stock has a market capitalization of $657.08 million and a P/E ratio of 5.62. The firm’s 50 day moving average price is $24.57 and its 200 day moving average price is $29.16.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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 company had revenue of $84.93 million during the quarter, compared to the consensus estimate of $74.61 million. As a group, equities research analysts expect that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were given a dividend of $0.45 per share. The ex-dividend date was Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a yield of 8.82%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of large investors have recently made changes to their positions in the company. Wexford Capital LP lifted its position in 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 purchasing an additional 1,472 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Okeanis Eco Tankers during the 3rd quarter valued at approximately $206,000. Marshall Wace LLP bought a new stake in Okeanis Eco Tankers during the 2nd quarter worth approximately $247,000. PDT Partners LLC boosted its position in shares of Okeanis Eco Tankers by 61.5% in the third quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock worth $663,000 after purchasing an additional 7,715 shares during the period. Finally, BBR Partners LLC bought a new stake in shares of Okeanis Eco Tankers during the 3rd quarter valued at $326,000.

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.