Okeanis Eco Tankers (NYSE:ECO) Shares Gap Up – Still a Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $20.37, but opened at $21.18. Okeanis Eco Tankers shares last traded at $21.34, with a volume of 40,074 shares changing hands.

Analyst Upgrades and Downgrades

Separately, B. Riley dropped their price target on Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th.

Okeanis Eco Tankers Stock Performance

The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 1.46. The stock has a market cap of $677.23 million and a price-to-earnings ratio of 6.22. The company has a 50 day simple moving average of $22.97 and a 200 day simple moving average of $26.07.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.22 by $0.19. The business had revenue of $85.19 million during the quarter, compared to the consensus estimate of $82.46 million. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.40%. As a group, equities research analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 6.66%. Okeanis Eco Tankers’s dividend payout ratio is presently 41.42%.

Institutional Trading of Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently made changes to their positions in ECO. PDT Partners LLC boosted its position in Okeanis Eco Tankers by 6.2% during the 4th quarter. PDT Partners LLC now owns 21,504 shares of the company’s stock worth $457,000 after buying an additional 1,250 shares during the period. Wexford Capital LP raised its stake in shares of Okeanis Eco Tankers by 7.1% during the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock valued at $728,000 after acquiring an additional 1,472 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of Okeanis Eco Tankers by 21.7% during the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company’s stock worth $279,000 after purchasing an additional 2,340 shares during the period. Wells Fargo & Company MN bought a new stake in shares of Okeanis Eco Tankers in the fourth quarter worth $78,000. Finally, Bank of America Corp DE increased its holdings in Okeanis Eco Tankers by 25.9% in the fourth 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 period.

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.