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

Okeanis Eco Tankers Corp. (NYSE:ECO) shares gapped up prior to trading on Wednesday . The stock had previously closed at $22.35, but opened at $22.97. Okeanis Eco Tankers shares last traded at $22.97, with a volume of 27,067 shares trading hands.

Analysts Set New Price Targets

Separately, B. Riley reduced 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 report on Wednesday, January 15th.

Okeanis Eco Tankers Price Performance

The business’s 50 day simple moving average is $23.02 and its 200-day simple moving average is $25.46. The stock has a market capitalization of $743.84 million, a price-to-earnings ratio of 6.80 and a beta of 0.57. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.34 and a current ratio of 1.64.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Wednesday, February 19th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.19. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.40%. The business had revenue of $85.19 million for the quarter, compared to the consensus estimate of $82.46 million. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend was Monday, March 3rd. Okeanis Eco Tankers’s dividend payout ratio is 41.42%.

Institutional Trading of Okeanis Eco Tankers

Large investors have recently modified their holdings of the company. PDT Partners LLC raised its stake in shares of 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 buying an additional 1,250 shares in the last quarter. Wexford Capital LP grew its holdings 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 acquiring an additional 1,472 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Okeanis Eco Tankers by 21.7% in the 4th quarter. Citadel Advisors LLC now owns 13,108 shares of the company’s stock valued at $279,000 after purchasing an additional 2,340 shares during the last quarter. Wells Fargo & Company MN bought a new position in shares of Okeanis Eco Tankers in the 4th quarter valued at about $78,000. Finally, Bank of America Corp DE boosted its stake in Okeanis Eco Tankers by 25.9% during the 4th quarter. Bank of America Corp DE now owns 23,307 shares of the company’s stock worth $496,000 after acquiring an additional 4,798 shares during the last quarter.

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.