Okeanis Eco Tankers (NYSE:ECO) Hits New 1-Year Low – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $22.94 and last traded at $23.01, with a volume of 217662 shares changing hands. The stock had previously closed at $23.30.

Okeanis Eco Tankers Trading Down 1.7 %

The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.23 and a current ratio of 1.48. The stock has a market capitalization of $737.15 million and a P/E ratio of 6.42. The stock has a 50-day moving average price of $30.92 and a two-hundred day moving average price of $31.66.

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 analysts’ expectations of $74.61 million. Okeanis Eco Tankers had a return on equity of 28.35% and a net margin of 30.17%. On average, research analysts forecast that Okeanis Eco Tankers Corp. will post 3.52 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.86%. The ex-dividend date of this dividend is Monday, November 18th. Okeanis Eco Tankers’s payout ratio is currently 48.48%.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in shares of Okeanis Eco Tankers in the second quarter valued at approximately $370,000. Hsbc Holdings PLC grew its stake in 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 acquiring an additional 98,528 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in Okeanis Eco Tankers in the 2nd quarter worth $1,767,000. Marshall Wace LLP acquired a new position in Okeanis Eco Tankers during the second quarter worth $247,000. Finally, Lighthouse Investment Partners LLC purchased a new position in Okeanis Eco Tankers during the second quarter valued at $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.