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

Okeanis Eco Tankers Corp. (NYSE:ECOGet Free Report) shares saw an uptick in trading volume on Thursday . 59,200 shares traded hands during trading, a decline of 32% from the previous session’s volume of 86,761 shares.The stock last traded at $19.51 and had previously closed at $19.23.

Okeanis Eco Tankers Trading Down 1.7 %

The company has a fifty day simple moving average of $24.57 and a two-hundred day simple moving average of $29.24. The company has a market capitalization of $606.21 million and a P/E ratio of 5.19. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34.

Okeanis Eco Tankers (NYSE:ECOGet Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.36. The company had revenue of $84.93 million for the quarter, compared to the consensus estimate of $74.61 million. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. On average, analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, November 18th. This represents a $1.80 annualized dividend and a dividend yield of 9.56%. Okeanis Eco Tankers’s payout ratio is 48.48%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several institutional investors and hedge funds have recently added to or reduced their stakes in ECO. Public Employees Retirement System of Ohio acquired a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at $383,000. Jane Street Group LLC bought a new stake in Okeanis Eco Tankers in the third quarter valued at about $206,000. Wexford Capital LP raised its position in Okeanis Eco Tankers by 7.1% in the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock worth $728,000 after purchasing an additional 1,472 shares in the last quarter. Quadrature Capital Ltd bought a new position in Okeanis Eco Tankers during the third quarter worth about $1,169,000. Finally, PDT Partners LLC lifted its stake in Okeanis Eco Tankers by 61.5% during 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.

About Okeanis Eco Tankers

(Get Free Report)

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.

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