Okeanis Eco Tankers (NYSE:ECO) Sees Strong Trading Volume – Still a Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO) saw unusually-strong trading volume on Friday . Approximately 139,240 shares were traded during mid-day trading, an increase of 56% from the previous session’s volume of 89,389 shares.The stock last traded at $21.24 and had previously closed at $20.91.

Okeanis Eco Tankers Trading Up 0.5 %

The firm’s 50-day moving average price is $23.46 and its 200-day moving average price is $28.77. The company has a market cap of $676.72 million and a P/E ratio of 5.79. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 1.48.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Friday, November 8th. The company reported $0.45 earnings per share (EPS) 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 business had revenue of $84.93 million for the quarter, compared to analysts’ expectations 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 announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were paid a $0.45 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.80 annualized dividend and a yield of 8.56%. Okeanis Eco Tankers’s dividend payout ratio is currently 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wexford Capital LP boosted its position in shares of Okeanis Eco Tankers by 7.1% in the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock valued at $728,000 after acquiring an additional 1,472 shares during the period. Jane Street Group LLC bought a new position in Okeanis Eco Tankers in the 3rd quarter valued at $206,000. Marshall Wace LLP purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at $247,000. PDT Partners LLC increased its holdings 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 purchased a new stake in shares of Okeanis Eco Tankers in the third quarter worth $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.