Okeanis Eco Tankers (NYSE:ECO) Trading 5.7% Higher – Should You Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price rose 5.7% on Tuesday . The company traded as high as $22.62 and last traded at $22.62. Approximately 163,559 shares changed hands during mid-day trading, an increase of 106% from the average daily volume of 79,494 shares. The stock had previously closed at $21.41.

Okeanis Eco Tankers Trading Up 7.1 %

The business’s fifty day simple moving average is $28.39 and its two-hundred day simple moving average is $30.67. The stock has a market capitalization of $738.44 million and a P/E ratio of 6.30. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 1.48.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.09 by $0.36. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. The firm had revenue of $84.93 million during the quarter, compared to analysts’ expectations of $74.61 million. As a group, analysts forecast that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.80 annualized dividend and a dividend yield of 7.85%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 48.48%.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of hedge funds have recently modified their holdings of ECO. Public Employees Retirement System of Ohio acquired a new position in Okeanis Eco Tankers in the third quarter valued at about $383,000. Jane Street Group LLC bought a new position in shares of Okeanis Eco Tankers in the third quarter valued at approximately $206,000. Wexford Capital LP boosted its holdings in shares of Okeanis Eco Tankers by 7.1% in the 3rd quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock worth $728,000 after acquiring an additional 1,472 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Okeanis Eco Tankers during the 3rd quarter worth approximately $1,169,000. Finally, PDT Partners LLC increased its holdings in Okeanis Eco Tankers by 61.5% during the 3rd quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock valued at $663,000 after purchasing an additional 7,715 shares in the last quarter.

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.