Okeanis Eco Tankers (NYSE:ECO) Shares Down 3.8% – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price traded down 3.8% during trading on Thursday . The company traded as low as $23.15 and last traded at $23.15. 154,559 shares changed hands during trading, an increase of 104% from the average session volume of 75,826 shares. The stock had previously closed at $24.07.

Okeanis Eco Tankers Stock Down 3.1 %

The firm’s 50-day simple moving average is $30.07 and its two-hundred day simple moving average is $31.30. The stock has a market cap of $750.99 million and a price-to-earnings ratio of 6.63. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.23 and a current ratio of 1.48.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.36. Okeanis Eco Tankers had a return on equity of 27.00% and a net margin of 29.25%. The business had revenue of $84.93 million for the quarter, compared to analysts’ expectations of $74.61 million. On average, sell-side analysts expect that Okeanis Eco Tankers Corp. will post 3.19 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.72%. Okeanis Eco Tankers’s dividend payout ratio is 48.48%.

Institutional Trading of Okeanis Eco Tankers

Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in Okeanis Eco Tankers during the 3rd quarter valued at $383,000. Jane Street Group LLC acquired a new stake in Okeanis Eco Tankers during the 3rd quarter worth approximately $206,000. Wexford Capital LP increased its position in Okeanis Eco Tankers by 7.1% during the 3rd quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock worth $728,000 after buying an additional 1,472 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Okeanis Eco Tankers in the third quarter valued at about $1,169,000. Finally, PDT Partners LLC increased its holdings in shares of Okeanis Eco Tankers by 61.5% during the third quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock worth $663,000 after purchasing an additional 7,715 shares during the period.

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.