Okeanis Eco Tankers (NYSE:ECO) Trading 5.7% Higher – Here’s Why

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price was up 5.7% during trading on Tuesday . The company traded as high as $22.62 and last traded at $22.62. Approximately 163,559 shares were traded during trading, an increase of 106% from the average daily volume of 79,494 shares. The stock had previously closed at $21.41.

Okeanis Eco Tankers Stock Up 7.1 %

The stock has a market cap of $738.44 million and a price-to-earnings ratio of 6.30. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69. The firm’s 50-day simple moving average is $28.39 and its two-hundred day simple moving average is $30.67.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Friday, November 8th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.09 by $0.36. The company had revenue of $84.93 million during the quarter, compared to analysts’ expectations of $74.61 million. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. On average, sell-side analysts expect that Okeanis Eco Tankers Corp. will post 3.19 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.85%. The ex-dividend date of this dividend is Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio is presently 48.48%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in shares of Okeanis Eco Tankers during the third quarter worth about $206,000. Marshall Wace LLP bought a new position in Okeanis Eco Tankers in the second quarter valued at approximately $247,000. BBR Partners LLC bought a new stake in shares of Okeanis Eco Tankers during the third quarter worth $326,000. Acadian Asset Management LLC acquired a new stake in shares of Okeanis Eco Tankers during the second quarter worth $370,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Okeanis Eco Tankers in the 3rd quarter valued at $383,000.

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.