Okeanis Eco Tankers (NYSE:ECO) Shares Gap Up – Here’s Why

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $20.71, but opened at $21.99. Okeanis Eco Tankers shares last traded at $22.13, with a volume of 114,835 shares traded.

Okeanis Eco Tankers Stock Down 2.0 %

The company has a market capitalization of $711.17 million and a PE ratio of 6.09. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 1.48. The firm has a 50 day simple moving average of $22.21 and a two-hundred day simple moving average of $28.21.

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

Okeanis Eco Tankers Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.80 annualized dividend and a yield of 8.15%. Okeanis Eco Tankers’s dividend payout ratio is currently 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of institutional investors have recently added to or reduced their stakes in ECO. Hsbc Holdings PLC lifted its holdings in shares of Okeanis Eco Tankers by 123.9% in the 2nd quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock valued at $5,692,000 after buying an additional 98,528 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Okeanis Eco Tankers in the second quarter worth $2,086,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Okeanis Eco Tankers in the second quarter valued at $1,767,000. Quadrature Capital Ltd purchased a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth $1,169,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Okeanis Eco Tankers by 409.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock worth $661,000 after purchasing an additional 16,280 shares in 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.