Okeanis Eco Tankers (NYSE:ECO) Trading 2.5% Higher - Here's What Happened

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) were up 2.5% on Friday . The company traded as high as $22.49 and last traded at $22.47. Approximately 19,255 shares were traded during trading, a decline of 85% from the average daily volume of 129,816 shares. The stock had previously closed at $21.92.

Analyst Ratings Changes

Separately, B. Riley lowered their target price 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 50-day simple moving average of $22.80 and a 200-day simple moving average of $24.97. 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 $702.47 million, a price-to-earnings ratio of 6.46 and a beta of 0.57.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last announced its quarterly 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 business had revenue of $85.19 million for the quarter, compared to analyst estimates of $82.46 million. As a group, research analysts predict that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 6.42%. Okeanis Eco Tankers's dividend payout ratio is presently 41.42%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. acquired a new stake in Okeanis Eco Tankers during the 4th quarter valued at $213,000. Citadel Advisors LLC increased its position in Okeanis Eco Tankers by 21.7% during the 4th quarter. Citadel Advisors LLC now owns 13,108 shares of the company's stock worth $279,000 after purchasing an additional 2,340 shares in the last quarter. Bank of America Corp DE raised its stake 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 purchasing an additional 4,798 shares during the last quarter. PDT Partners LLC lifted its holdings in Okeanis Eco Tankers by 6.2% in the 4th 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 in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in Okeanis Eco Tankers during the fourth quarter worth 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.