Okeanis Eco Tankers (NYSE:ECO) Shares Gap Up – Should You Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $20.71, but opened at $21.99. Okeanis Eco Tankers shares last traded at $22.13, with a volume of 114,835 shares trading hands.

Okeanis Eco Tankers Stock Down 2.0 %

The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 1.48. The firm’s fifty day simple moving average is $22.21 and its 200 day simple moving average is $28.21. The company has a market cap of $711.17 million and a price-to-earnings ratio of 6.09.

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

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a yield of 8.15%. Okeanis Eco Tankers’s payout ratio is currently 48.48%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ECO. Jane Street Group LLC purchased a new position in Okeanis Eco Tankers during the 3rd quarter worth approximately $206,000. Marshall Wace LLP purchased a new position in shares of Okeanis Eco Tankers during the second quarter worth approximately $247,000. BBR Partners LLC acquired a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at $326,000. Acadian Asset Management LLC acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at $370,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Okeanis Eco Tankers in the 3rd quarter valued at $383,000.

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.