Okeanis Eco Tankers (NYSE:ECO) Sees Strong Trading Volume - Time to Buy?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) saw unusually-high trading volume on Monday . Approximately 242,476 shares were traded during mid-day trading, an increase of 99% from the previous session's volume of 121,959 shares.The stock last traded at $21.23 and had previously closed at $20.66.

Analyst Ratings Changes

Separately, B. Riley lowered their price target on Okeanis Eco Tankers from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th.

Okeanis Eco Tankers Trading Up 2.2 %

The business's 50 day simple moving average is $22.98 and its 200 day simple moving average is $26.04. The stock has a market cap of $700.12 million and a price-to-earnings ratio of 6.43. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 1.46.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.19. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.40%. The business had revenue of $85.19 million during the quarter, compared to the consensus estimate of $82.46 million. On average, research analysts expect that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

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Okeanis Eco Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 6.44%. Okeanis Eco Tankers's dividend payout ratio is currently 41.42%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Large investors have recently added to or reduced their stakes in the business. PDT Partners LLC increased its holdings in shares of Okeanis Eco Tankers by 6.2% in the fourth quarter. PDT Partners LLC now owns 21,504 shares of the company's stock valued at $457,000 after purchasing an additional 1,250 shares during the last quarter. Wexford Capital LP boosted its holdings in shares of Okeanis Eco Tankers by 7.1% during the 3rd quarter. Wexford Capital LP now owns 22,204 shares of the company's stock worth $728,000 after buying an additional 1,472 shares during the period. Citadel Advisors LLC grew its stake in Okeanis Eco Tankers by 21.7% in the 4th quarter. Citadel Advisors LLC now owns 13,108 shares of the company's stock valued at $279,000 after buying an additional 2,340 shares during the last quarter. Wells Fargo & Company MN acquired a new position in Okeanis Eco Tankers in the 4th quarter valued at about $78,000. Finally, Bank of America Corp DE raised its holdings in Okeanis Eco Tankers by 25.9% in the 4th quarter. Bank of America Corp DE now owns 23,307 shares of the company's stock valued at $496,000 after acquiring an additional 4,798 shares during the period.

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.