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

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $22.53, but opened at $21.44. Okeanis Eco Tankers shares last traded at $21.74, with a volume of 79,718 shares.

Okeanis Eco Tankers Stock Down 2.4 %

The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69. The stock has a 50 day moving average price of $22.30 and a 200 day moving average price of $28.25. The company has a market cap of $707.62 million and a P/E ratio of 6.06.

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

Okeanis Eco Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were given a $0.45 dividend. 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 8.19%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 48.48%.

Institutional Trading of Okeanis Eco Tankers

Several institutional investors have recently made changes to their positions in the stock. Lighthouse Investment Partners LLC acquired a new stake in shares of Okeanis Eco Tankers during the 2nd quarter valued at $2,086,000. Quadrature Capital Ltd acquired a new stake in Okeanis Eco Tankers in the 3rd quarter worth approximately $1,169,000. BNP Paribas Financial Markets raised its position in shares of Okeanis Eco Tankers by 409.9% in the third quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock valued at $661,000 after purchasing an additional 16,280 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Okeanis Eco Tankers in the second quarter worth $370,000. Finally, Marshall Wace LLP bought a new position in Okeanis Eco Tankers in the 2nd quarter worth $247,000.

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.