Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Here’s What Happened

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) gapped down before the market opened on Wednesday . The stock had previously closed at $39.62, but opened at $36.31. Okeanis Eco Tankers shares last traded at $36.8250, with a volume of 345,580 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ECO. Clarkson Capital raised shares of Okeanis Eco Tankers to a “hold” rating in a research note on Friday, November 14th. B. Riley increased their price objective on shares of Okeanis Eco Tankers from $35.00 to $45.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Okeanis Eco Tankers in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Finally, UBS Group cut Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Okeanis Eco Tankers presently has a consensus rating of “Hold” and an average price target of $37.00.

Okeanis Eco Tankers Trading Down 7.3%

The stock has a market capitalization of $1.18 billion and a PE ratio of 17.59. The company’s 50 day moving average price is $31.71 and its two-hundred day moving average price is $26.86. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.96 and a quick ratio of 1.65.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.48. Okeanis Eco Tankers had a net margin of 19.52% and a return on equity of 15.81%. The company had revenue of $59.95 million during the quarter, compared to the consensus estimate of $51.29 million. As a group, analysts expect that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd will be issued a $0.75 dividend. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 8.2%. The ex-dividend date of this dividend is Tuesday, December 2nd. Okeanis Eco Tankers’s payout ratio is 125.52%.

Institutional Trading of Okeanis Eco Tankers

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its stake in shares of Okeanis Eco Tankers by 5.4% in the 3rd quarter. SG Americas Securities LLC now owns 443,695 shares of the company’s stock worth $12,987,000 after acquiring an additional 22,906 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Okeanis Eco Tankers by 56.8% during the first quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company’s stock worth $3,328,000 after purchasing an additional 54,528 shares during the last quarter. Semmax Financial Advisors Inc. raised its stake in Okeanis Eco Tankers by 8.2% during the second quarter. Semmax Financial Advisors Inc. now owns 132,545 shares of the company’s stock worth $2,880,000 after purchasing an additional 10,016 shares during the period. Boston Partners boosted its holdings in Okeanis Eco Tankers by 23.9% in the 1st quarter. Boston Partners now owns 71,731 shares of the company’s stock valued at $1,585,000 after purchasing an additional 13,842 shares during the last quarter. Finally, Energy Income Partners LLC grew its stake in shares of Okeanis Eco Tankers by 31.1% in the 3rd quarter. Energy Income Partners LLC now owns 65,987 shares of the company’s stock valued at $1,931,000 after buying an additional 15,671 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.