Okeanis Eco Tankers (NYSE:ECO) Trading Down 2.9% – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price was down 2.9% on Thursday . The stock traded as low as $20.90 and last traded at $20.95. Approximately 35,059 shares traded hands during trading, a decline of 61% from the average daily volume of 88,786 shares. The stock had previously closed at $21.57.

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 stock has a market capitalization of $681.23 million and a price-to-earnings ratio of 5.83. The company’s 50-day simple moving average is $23.90 and its 200 day simple moving average is $28.94.

Okeanis Eco Tankers (NYSE:ECO) last issued 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 return on equity of 27.19% and a net margin of 29.25%. The business had revenue of $84.93 million during the quarter, compared to analyst estimates of $74.61 million. Equities research analysts forecast that Okeanis Eco Tankers Corp. will post 3.19 EPS for the current year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.51%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s payout ratio is presently 48.48%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Wexford Capital LP grew 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 worth $728,000 after purchasing an additional 1,472 shares during the period. Jane Street Group LLC bought a new stake in Okeanis Eco Tankers in the third quarter valued at approximately $206,000. Marshall Wace LLP acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at $247,000. PDT Partners LLC grew its position in shares of Okeanis Eco Tankers by 61.5% in the 3rd quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock valued at $663,000 after purchasing an additional 7,715 shares during the period. Finally, BBR Partners LLC acquired a new stake in Okeanis Eco Tankers during the 3rd quarter worth approximately $326,000.

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.