Okeanis Eco Tankers (NYSE:ECO) Shares Down 5.2% – Should You Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price was down 5.2% on Thursday . The stock traded as low as $52.82 and last traded at $52.2040. 60,237 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 482,480 shares. The stock had previously closed at $55.04.

Wall Street Analyst Weigh In

ECO has been the subject of several recent analyst reports. Wall Street Zen cut Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Clarkson Capital lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Pareto Securities downgraded Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective for the company. in a research report on Monday, May 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Thursday, June 18th. Finally, Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Okeanis Eco Tankers has a consensus rating of “Moderate Buy” and an average price target of $51.89.

Okeanis Eco Tankers Trading Down 7.2%

The company has a debt-to-equity ratio of 0.75, a current ratio of 1.70 and a quick ratio of 1.56. The firm has a market cap of $1.99 billion, a PE ratio of 9.08 and a beta of -0.07. The company’s 50 day moving average price is $52.63 and its 200 day moving average price is $47.17.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.59. The firm had revenue of $170.16 million for the quarter, compared to the consensus estimate of $134.02 million. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. As a group, analysts forecast that Okeanis Eco Tankers Corp. will post 9.53 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 28th were given a dividend of $2.00 per share. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 dividend on an annualized basis and a dividend yield of 15.7%. The ex-dividend date of this dividend was Thursday, May 28th. Okeanis Eco Tankers’s dividend payout ratio is currently 141.34%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ECO. Goldman Sachs Group Inc. grew its stake in Okeanis Eco Tankers by 56.8% during the 1st 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 in the last quarter. Invesco Ltd. purchased a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at about $613,000. Lighthouse Investment Partners LLC grew its position in shares of Okeanis Eco Tankers by 13.5% during the second quarter. Lighthouse Investment Partners LLC now owns 46,816 shares of the company’s stock worth $1,017,000 after buying an additional 5,558 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers during the second quarter worth about $25,000. Finally, Semmax Financial Advisors Inc. increased its stake in shares of 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 buying an additional 10,016 shares during the period.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.

As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.