Okeanis Eco Tankers (NYSE:ECO) Sees Large Volume Increase Following Dividend Announcement

Okeanis Eco Tankers Corp. (NYSE:ECO) saw unusually-strong trading volume on Friday following a dividend announcement from the company. Approximately 481,258 shares were traded during trading, an increase of 95% from the previous session’s volume of 246,729 shares.The stock last traded at $21.99 and had previously closed at $22.44.

The newly announced dividend which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 6.40%. Okeanis Eco Tankers’s dividend payout ratio is 52.07%.

Analyst Ratings Changes

Separately, B. Riley reduced their price objective on shares of Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th.

Okeanis Eco Tankers Trading Down 2.5 %

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 company has a market cap of $704.32 million and a P/E ratio of 6.47. The firm’s 50 day moving average is $22.77 and its two-hundred day moving average is $26.62.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.19. The company had revenue of $85.19 million for the quarter, compared to analysts’ expectations 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 anticipate that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PDT Partners LLC lifted its holdings in Okeanis Eco Tankers by 6.2% in the fourth 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 during the period. Wexford Capital LP lifted its holdings in Okeanis Eco Tankers by 7.1% in the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock valued at $728,000 after buying an additional 1,472 shares during the period. Citadel Advisors LLC lifted its holdings in Okeanis Eco Tankers by 21.7% in the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company’s stock valued at $279,000 after buying an additional 2,340 shares during the period. Wells Fargo & Company MN acquired a new position in Okeanis Eco Tankers in the fourth quarter valued at $78,000. Finally, Bank of America Corp DE lifted 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 buying 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.