Okeanis Eco Tankers (NYSE:ECO) Price Target Lowered to $40.00 at B. Riley

Okeanis Eco Tankers (NYSE:ECO - Free Report) had its target price trimmed by B. Riley from $44.00 to $40.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Okeanis Eco Tankers Stock Performance

Shares of Okeanis Eco Tankers stock traded up $0.39 on Wednesday, reaching $25.28. The stock had a trading volume of 216,222 shares, compared to its average volume of 300,569. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69. The business's 50-day moving average price is $22.06 and its two-hundred day moving average price is $27.96. The stock has a market cap of $813.86 million and a P/E ratio of 6.96. Okeanis Eco Tankers has a fifty-two week low of $18.79 and a fifty-two week high of $36.69.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last released its earnings results on Friday, November 8th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.36. The firm 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%. On average, sell-side analysts forecast that Okeanis Eco Tankers will post 3.19 EPS for the current year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.12%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers's dividend payout ratio is currently 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several hedge funds have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in Okeanis Eco Tankers in the 3rd quarter worth $206,000. Marshall Wace LLP bought a new stake in shares of Okeanis Eco Tankers in the second quarter valued at about $247,000. BBR Partners LLC acquired a new position in Okeanis Eco Tankers in the 3rd quarter valued at approximately $326,000. Acadian Asset Management LLC acquired a new stake in shares of Okeanis Eco Tankers during the 2nd quarter worth approximately $370,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $383,000.

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.