Okeanis Eco Tankers (NYSE:ECO) Sees Large Volume Increase – Here’s Why

Okeanis Eco Tankers Corp. (NYSE:ECO) shares saw strong trading volume on Wednesday . 41,537 shares traded hands during trading, a decline of 50% from the previous session’s volume of 82,397 shares.The stock last traded at $20.39 and had previously closed at $20.85.

Okeanis Eco Tankers Stock Performance

The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69. The stock’s 50-day moving average price is $27.27 and its 200-day moving average price is $30.19. The company has a market capitalization of $648.63 million and a price-to-earnings ratio of 5.74.

Okeanis Eco Tankers (NYSE:ECO) last posted its earnings results on Friday, November 8th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.36. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. The business had revenue of $84.93 million for the quarter, compared to analyst estimates of $74.61 million. As a group, equities research analysts expect that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.93%. The ex-dividend date was Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio is presently 48.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ECO. Jane Street Group LLC acquired a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth $206,000. Marshall Wace LLP bought a new stake in Okeanis Eco Tankers in the 2nd quarter valued at $247,000. BBR Partners LLC bought a new stake in Okeanis Eco Tankers in the 3rd quarter valued at $326,000. Acadian Asset Management LLC bought a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth about $370,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth about $383,000.

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.