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

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price gapped down prior to trading on Monday. The stock had previously closed at $101.33, but opened at $96.50. Okeanis Eco Tankers shares last traded at $96.0630, with a volume of 203,336 shares traded.

Analyst Ratings Changes

Several research firms recently issued reports on ECO. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Zacks Research lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Weiss Ratings raised shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, September 9th. Finally, B. Riley Financial upped their target price on shares of Okeanis Eco Tankers from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 5th. 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, Okeanis Eco Tankers has a consensus rating of “Hold” and an average target price of $67.85.

Okeanis Eco Tankers Trading Down 7.5%

The company has a market cap of $3.66 billion, a price-to-earnings ratio of 8.75 and a beta of -0.19. The firm has a 50-day moving average price of $82.43 and a 200 day moving average price of $58.86. The company has a current ratio of 4.43, a quick ratio of 4.13 and a debt-to-equity ratio of 0.76.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $1.30. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. The business had revenue of $268.14 million during the quarter, compared to the consensus estimate of $220.28 million. As a group, sell-side analysts forecast that Okeanis Eco Tankers Corp. will post 15.33 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were paid a dividend of $5.25 per share. The ex-dividend date was Friday, August 14th. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $2.00. This represents a $21.00 annualized dividend and a yield of 22.4%. Okeanis Eco Tankers’s payout ratio is presently 195.90%.

Insiders Place Their Bets

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $59.99, for a total transaction of $4,104,515.80. Following the sale, the director directly owned 1,347,038 shares of the company’s stock, valued at approximately $80,808,809.62. This represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ECO. State of Wyoming raised its stake in Okeanis Eco Tankers by 2.6% during the first quarter. State of Wyoming now owns 8,123 shares of the company’s stock worth $411,000 after acquiring an additional 202 shares during the period. Triumph Capital Management boosted its stake in Okeanis Eco Tankers by 1.6% during the 2nd quarter. Triumph Capital Management now owns 20,112 shares of the company’s stock valued at $1,008,000 after purchasing an additional 312 shares during the period. Financial Management Professionals Inc. acquired a new position in shares of Okeanis Eco Tankers during the third quarter worth approximately $43,000. Fifth Third Bancorp acquired a new position in Okeanis Eco Tankers during the 1st quarter worth $29,000. Finally, SBI Securities Co. Ltd. lifted its holdings in Okeanis Eco Tankers by 48,800.0% in the third quarter. SBI Securities Co. Ltd. now owns 978 shares of the company’s stock worth $79,000 after purchasing an additional 976 shares during the period.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a maritime transportation company that owns and operates oceangoing tankers. The company focuses primarily on the transportation of crude oil and refined petroleum products for energy companies, commodity traders and other customers in the global oil industry.

Its fleet consists mainly of large crude carriers, including very large crude carriers (VLCCs) and Suezmax tankers, as well as product tankers designed to transport refined petroleum products. Okeanis Eco Tankers emphasizes fuel efficiency and environmental performance through the use of modern vessels and technologies intended to reduce emissions and operating consumption.

Okeanis Eco Tankers was established in 2018 and is headquartered in Athens, Greece.