Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Here’s Why

by · The Cerbat Gem

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.

Analysts Set New Price Targets

Separately, B. Riley reduced their price objective 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.

Read Our Latest Stock Report on ECO

Okeanis Eco Tankers Trading Down 12.4 %

The stock has a market cap of $586.90 million, a PE ratio of 5.40 and a beta of 0.04. 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’s 50-day moving average price is $22.71 and its 200 day moving average price is $24.84.

Okeanis Eco Tankers (NYSE:ECO – Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.19. The firm had revenue of $85.19 million during the quarter, compared to analysts’ expectations of $82.46 million. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.40%. On average, sell-side analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 7.68%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 41.42%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. FIL Ltd boosted its holdings in Okeanis Eco Tankers by 1.3% in the fourth quarter. FIL Ltd now owns 611,929 shares of the company’s stock valued at $12,439,000 after purchasing an additional 8,053 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Okeanis Eco Tankers by 70.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 507,495 shares of the company’s stock valued at $10,579,000 after buying an additional 209,260 shares in the last quarter. Boston Partners acquired a new stake in Okeanis Eco Tankers during the 4th quarter worth $1,231,000. Walleye Capital LLC purchased a new stake in Okeanis Eco Tankers in the fourth quarter valued at $1,144,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Okeanis Eco Tankers during the third quarter worth about $1,169,000.

About Okeanis Eco Tankers

(Get Free Report)

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.

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