Okeanis Eco Tankers (NYSE:ECO) Trading Down 5.4% Following Analyst Downgrade

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price was down 5.4% during mid-day trading on Thursday after B. Riley lowered their price target on the stock from $44.00 to $40.00. B. Riley currently has a buy rating on the stock. Okeanis Eco Tankers traded as low as $23.90 and last traded at $23.90. Approximately 242,315 shares traded hands during trading, a decline of 17% from the average daily volume of 293,095 shares. The stock had previously closed at $25.26.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of large investors have recently modified their holdings of the business. Wexford Capital LP grew its holdings 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 worth $728,000 after buying an additional 1,472 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Okeanis Eco Tankers in the third quarter valued at about $206,000. Marshall Wace LLP purchased a new stake in shares of Okeanis Eco Tankers in the second quarter valued at about $247,000. PDT Partners LLC grew its holdings in shares of Okeanis Eco Tankers by 61.5% in the third quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock valued at $663,000 after purchasing an additional 7,715 shares during the period. Finally, BBR Partners LLC purchased a new stake in shares of Okeanis Eco Tankers in the third quarter valued at about $326,000.

Okeanis Eco Tankers Price Performance

The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34. The stock’s fifty day moving average is $22.06 and its 200-day moving average is $27.96. The stock has a market cap of $769.44 million and a PE ratio of 6.57.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $84.93 million during the quarter, compared to analyst estimates of $74.61 million. As a group, equities analysts anticipate that Okeanis Eco Tankers Corp. will post 3.19 EPS for the current year.

Okeanis Eco Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.53%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 48.48%.

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.