Okeanis Eco Tankers (NYSE:ECO) Sees Unusually-High Trading Volume – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO) saw strong trading volume on Wednesday . 41,537 shares changed hands during mid-day trading, a decline of 50% from the previous session’s volume of 82,397 shares.The stock last traded at $20.39 and had previously closed at $20.85.

Okeanis Eco Tankers Price Performance

The company has a market capitalization of $617.73 million and a P/E ratio of 5.29. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34. The firm’s 50-day moving average is $26.74 and its 200-day moving average is $30.01.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.36. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. The firm had revenue of $84.93 million during the quarter, compared to the consensus estimate of $74.61 million. Analysts predict that Okeanis Eco Tankers Corp. will post 3.19 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.38%. Okeanis Eco Tankers’s payout ratio is currently 48.48%.

Institutional Trading of Okeanis Eco Tankers

Several institutional investors and hedge funds have recently modified their holdings of ECO. Hsbc Holdings PLC raised its stake in Okeanis Eco Tankers by 123.9% during the 2nd quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock valued at $5,692,000 after purchasing an additional 98,528 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in Okeanis Eco Tankers during the 2nd quarter valued at approximately $2,086,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in Okeanis Eco Tankers during the 2nd quarter valued at approximately $1,767,000. Quadrature Capital Ltd bought a new stake in shares of Okeanis Eco Tankers during the third quarter valued at approximately $1,169,000. Finally, BNP Paribas Financial Markets boosted 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 during the last quarter.

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.