Okeanis Eco Tankers (NYSE:ECO) Sees Large Volume Increase – Here’s Why

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) saw unusually-strong trading volume on Friday . Approximately 224,839 shares traded hands during trading, a decline of 4% from the previous session’s volume of 233,363 shares.The stock last traded at $23.66 and had previously closed at $22.05.

Okeanis Eco Tankers Trading Up 9.8 %

The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $779.74 million and a PE ratio of 6.67. The stock’s fifty day moving average price is $22.12 and its two-hundred day moving average price is $28.17.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.36. The company had revenue of $84.93 million during the quarter, compared to analyst estimates of $74.61 million. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. Sell-side analysts anticipate that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.43%. The ex-dividend date was Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio is currently 48.48%.

Institutional Trading of Okeanis Eco Tankers

A number of hedge funds have recently modified their holdings of ECO. Wexford Capital LP increased its stake in shares of Okeanis Eco Tankers by 7.1% in the 3rd quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock worth $728,000 after acquiring an additional 1,472 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Okeanis Eco Tankers during the third quarter valued at approximately $206,000. Marshall Wace LLP purchased a new position in shares of Okeanis Eco Tankers during the second quarter valued at approximately $247,000. PDT Partners LLC boosted its position in shares of Okeanis Eco Tankers by 61.5% in the 3rd quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock worth $663,000 after purchasing an additional 7,715 shares in the last quarter. Finally, BBR Partners LLC purchased a new stake in shares of Okeanis Eco Tankers in the 3rd quarter worth approximately $326,000.

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.