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

Okeanis Eco Tankers Corp. (NYSE:ECO) shares gapped up prior to trading on Wednesday . The stock had previously closed at $22.35, but opened at $22.97. Okeanis Eco Tankers shares last traded at $22.97, with a volume of 27,067 shares.

Analyst Ratings Changes

Separately, B. Riley decreased their target price on Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

Okeanis Eco Tankers Trading Up 0.8 %

The company has a market cap of $757.52 million, a price-to-earnings ratio of 6.96 and a beta of 0.57. The firm has a 50-day moving average price of $23.07 and a 200 day moving average price of $25.43. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 1.46.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.19. The business had revenue of $85.19 million for the quarter, compared to the consensus estimate of $82.46 million. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%. As a group, sell-side analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Okeanis Eco Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.95%. The ex-dividend date was Monday, March 3rd. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 41.42%.

Institutional Trading of Okeanis Eco Tankers

Hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership raised its stake in Okeanis Eco Tankers by 70.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 507,495 shares of the company’s stock valued at $10,579,000 after acquiring an additional 209,260 shares in the last quarter. Boston Partners bought a new stake in Okeanis Eco Tankers during the 4th quarter valued at $1,231,000. Walleye Capital LLC bought a new stake in Okeanis Eco Tankers during the 4th quarter valued at $1,144,000. Quadrature Capital Ltd bought a new stake in Okeanis Eco Tankers during the 3rd quarter valued at $1,169,000. Finally, Boothbay Fund Management LLC bought a new stake in Okeanis Eco Tankers during the 4th quarter valued at $527,000.

Okeanis Eco Tankers Company Profile

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.