Okeanis Eco Tankers (NYSE:ECO) Hits New 52-Week Low – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price reached a new 52-week low during mid-day trading on Saturday . The company traded as low as $18.15 and last traded at $18.58, with a volume of 403929 shares traded. The stock had previously closed at $20.82.

Analyst Upgrades and Downgrades

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

Okeanis Eco Tankers Stock Down 10.8 %

The stock has a market cap of $598.00 million, a price-to-earnings ratio of 5.50 and a beta of 0.04. The firm’s fifty day moving average price is $22.62 and its two-hundred day moving average price is $24.74. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.64 and a quick ratio of 1.34.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.19. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%. The business had revenue of $85.19 million for the quarter, compared to analyst estimates of $82.46 million. Sell-side analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 7.54%. The ex-dividend date was Monday, March 3rd. Okeanis Eco Tankers’s payout ratio is currently 41.42%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ECO. BNP Paribas Financial Markets increased its position in shares of Okeanis Eco Tankers by 409.9% during the third quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock worth $661,000 after acquiring an additional 16,280 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Okeanis Eco Tankers during the 3rd quarter worth approximately $1,169,000. Wexford Capital LP raised its stake in shares of Okeanis Eco Tankers by 7.1% in the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock worth $728,000 after purchasing an additional 1,472 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Okeanis Eco Tankers in the third quarter valued at approximately $206,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Okeanis Eco Tankers during the third quarter valued at approximately $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.