Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down - What's Next?

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $20.82, but opened at $18.93. Okeanis Eco Tankers shares last traded at $18.71, with a volume of 123,658 shares traded.

Wall Street Analyst Weigh In

Separately, B. Riley reduced their price target on shares of 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 Price Performance

The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.34 and a current ratio of 1.64. The company has a market cap of $649.03 million, a price-to-earnings ratio of 5.96 and a beta of 0.04. The business has a fifty day moving average price of $22.39 and a 200 day moving average price of $24.38.

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

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.94%. The ex-dividend date was Monday, March 3rd. Okeanis Eco Tankers's payout ratio is 41.42%.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of ECO. FIL Ltd boosted its holdings in shares of Okeanis Eco Tankers by 1.3% during the 4th quarter. FIL Ltd now owns 611,929 shares of the company's stock valued at $12,439,000 after acquiring an additional 8,053 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Okeanis Eco Tankers by 70.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 507,495 shares of the company's stock valued at $10,579,000 after purchasing an additional 209,260 shares in the last quarter. Boston Partners bought a new stake in shares of Okeanis Eco Tankers during the fourth quarter worth about $1,231,000. Walleye Capital LLC bought a new stake in shares of Okeanis Eco Tankers during the fourth quarter worth about $1,144,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Okeanis Eco Tankers in the fourth quarter valued at approximately $527,000.

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.