Okeanis Eco Tankers (NYSE:ECO) Sees Strong Trading Volume – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares saw unusually-strong trading volume on Friday . Approximately 224,839 shares changed hands during trading, a decline of 4% from the previous session’s volume of 233,363 shares.The stock last traded at $23.66 and had previously closed at $22.05.

Okeanis Eco Tankers Price Performance

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 company has a fifty day moving average price of $22.08 and a two-hundred day moving average price of $28.09. The firm has a market cap of $777.71 million and a P/E ratio of 6.66.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results 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. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. The firm had revenue of $84.93 million for the quarter, compared to analyst estimates of $74.61 million. Equities analysts anticipate that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date was Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 48.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ECO. Lighthouse Investment Partners LLC bought a new stake in Okeanis Eco Tankers in the 2nd quarter valued at approximately $2,086,000. Quadrature Capital Ltd acquired a new stake in shares of Okeanis Eco Tankers in the third quarter valued at approximately $1,169,000. BNP Paribas Financial Markets lifted its position in shares of Okeanis Eco Tankers by 409.9% in the third 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. Acadian Asset Management LLC bought a new stake in shares of Okeanis Eco Tankers in the second quarter worth $370,000. Finally, Marshall Wace LLP acquired a new position in Okeanis Eco Tankers during the second quarter worth $247,000.

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.