Okeanis Eco Tankers (NYSE:ECO) Stock Price Down 2.9% - Should You Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) traded down 2.9% during trading on Thursday . The company traded as low as $20.90 and last traded at $20.95. 35,059 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 88,786 shares. The stock had previously closed at $21.57.

Okeanis Eco Tankers Trading Down 3.1 %

The stock has a market capitalization of $673.18 million and a PE ratio of 5.76. The company's 50 day moving average price is $23.90 and its two-hundred day moving average price is $28.94. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34.

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 business had revenue of $84.93 million for 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%. As a group, analysts expect that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.61%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers's dividend payout ratio is currently 48.48%.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in Okeanis Eco Tankers in the second quarter worth approximately $370,000. Hsbc Holdings PLC grew its holdings in shares of Okeanis Eco Tankers by 123.9% during the 2nd quarter. Hsbc Holdings PLC now owns 178,056 shares of the company's stock worth $5,692,000 after purchasing an additional 98,528 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Okeanis Eco Tankers during the 2nd quarter worth about $1,767,000. Marshall Wace LLP purchased a new stake in Okeanis Eco Tankers in the 2nd quarter valued at about $247,000. Finally, Lighthouse Investment Partners LLC acquired a new position in Okeanis Eco Tankers in the second quarter valued at about $2,086,000.

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.