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

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $22.04, but opened at $21.30. Okeanis Eco Tankers shares last traded at $21.47, with a volume of 73,745 shares traded.

Okeanis Eco Tankers Stock Performance

The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34. The firm has a market capitalization of $710.76 million and a PE ratio of 6.08. The firm has a fifty day moving average price of $28.83 and a 200 day moving average price of $30.89.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.36. The company had revenue of $84.93 million during 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 anticipate that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

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

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds have recently modified their holdings of ECO. Lighthouse Investment Partners LLC acquired a new position in Okeanis Eco Tankers during the second quarter valued at $2,086,000. Acadian Asset Management LLC acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at about $370,000. Marshall Wace LLP acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at about $247,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Okeanis Eco Tankers in the second quarter worth approximately $1,767,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Okeanis Eco Tankers by 123.9% during the second quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock worth $5,692,000 after purchasing an additional 98,528 shares during the period.

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.