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

Okeanis Eco Tankers Corp. (NYSE:ECO) shares saw strong trading volume on Thursday . 59,200 shares changed hands during mid-day trading, a decline of 32% from the previous session’s volume of 86,761 shares.The stock last traded at $19.51 and had previously closed at $19.23.

Okeanis Eco Tankers Trading Up 1.1 %

The firm has a market cap of $626.17 million and a P/E ratio of 5.36. The business’s 50-day moving average is $25.20 and its two-hundred day moving average is $29.43. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 1.48.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data 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. The firm had revenue of $84.93 million for the quarter, compared to the consensus estimate of $74.61 million. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. As a group, analysts expect that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.80 annualized dividend and a yield of 9.25%. Okeanis Eco Tankers’s dividend payout ratio is currently 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Institutional investors have recently made changes to their positions in the company. Wexford Capital LP grew its holdings in 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 purchasing an additional 1,472 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth $206,000. Marshall Wace LLP acquired a new position in Okeanis Eco Tankers in the 2nd quarter valued at $247,000. PDT Partners LLC raised its holdings in Okeanis Eco Tankers by 61.5% in the 3rd quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock worth $663,000 after acquiring an additional 7,715 shares during the period. Finally, BBR Partners LLC acquired a new position in Okeanis Eco Tankers during the 3rd quarter worth $326,000.

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.