Okeanis Eco Tankers (NYSE:ECO) Sees Large Volume Increase – Time to Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares saw unusually-high trading volume on Wednesday . Approximately 86,034 shares were traded during mid-day trading, an increase of 31% from the previous session’s volume of 65,540 shares.The stock last traded at $27.14 and had previously closed at $28.59.

Okeanis Eco Tankers Stock Performance

The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 1.37. The stock has a 50-day moving average of $31.73 and a 200 day moving average of $31.91. The stock has a market cap of $853.36 million and a PE ratio of 7.01.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Friday, August 9th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.33. Okeanis Eco Tankers had a net margin of 30.17% and a return on equity of 28.35%. The firm had revenue of $111.99 million for the quarter, compared to analysts’ expectations of $100.71 million. Equities analysts predict that Okeanis Eco Tankers Corp. will post 3.52 EPS for the current fiscal year.

Okeanis Eco Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 16.60%. Okeanis Eco Tankers’s dividend payout ratio is currently 116.40%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ECO. Susquehanna International Securities Ltd. acquired a new position in shares of Okeanis Eco Tankers in the 1st quarter valued at $210,000. Marshall Wace LLP purchased a new position in Okeanis Eco Tankers during the second quarter worth about $247,000. Acadian Asset Management LLC acquired a new stake in shares of Okeanis Eco Tankers during the second quarter valued at about $370,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at approximately $1,767,000. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter worth approximately $2,086,000.

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.