Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down - Here's What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $24.07, but opened at $22.36. Okeanis Eco Tankers shares last traded at $22.54, with a volume of 312,582 shares.

Wall Street Analysts Forecast Growth

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

Okeanis Eco Tankers Price Performance

The company has a market cap of $704.32 million and a PE ratio of 6.47. 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 stock has a 50 day moving average of $22.77 and a 200-day moving average of $26.62.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last announced its quarterly earnings data 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. 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 analysts' expectations of $82.46 million. Equities analysts predict 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 will be paid on Monday, March 17th. Shareholders 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 dividend on an annualized basis and a dividend yield of 6.40%. Okeanis Eco Tankers's payout ratio is currently 52.07%.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of institutional investors have recently modified their holdings of ECO. Wells Fargo & Company MN purchased a new position in Okeanis Eco Tankers during the fourth quarter valued at approximately $78,000. Jane Street Group LLC purchased a new position in shares of Okeanis Eco Tankers during the 3rd quarter valued at approximately $206,000. BBR Partners LLC purchased a new position in shares of Okeanis Eco Tankers during the 3rd quarter valued at approximately $326,000. Aristides Capital LLC purchased a new position in shares of Okeanis Eco Tankers during the 4th quarter valued at approximately $227,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Okeanis Eco Tankers in the third quarter valued at $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.