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

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) saw an uptick in trading volume on Monday . 53,659 shares were traded during trading, a decline of 28% from the previous session’s volume of 74,547 shares.The stock last traded at $24.14 and had previously closed at $23.21.

Okeanis Eco Tankers Trading Up 2.1 %

The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $789.94 million and a PE ratio of 6.76. The stock has a 50 day moving average price of $30.18 and a 200-day moving average price of $31.35.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.36. Okeanis Eco Tankers had a return on equity of 27.00% and a net margin of 29.25%. The business had revenue of $84.93 million for the quarter, compared to analysts’ expectations of $74.61 million. Sell-side analysts expect that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current year.

Okeanis Eco Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.33%. The ex-dividend date is Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio is presently 48.48%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Lighthouse Investment Partners LLC bought a new position in shares of Okeanis Eco Tankers in the second quarter worth approximately $2,086,000. Acadian Asset Management LLC bought a new position in Okeanis Eco Tankers in the 2nd quarter worth $370,000. Marshall Wace LLP purchased a new stake in Okeanis Eco Tankers in the 2nd quarter worth $247,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in Okeanis Eco Tankers in the 2nd quarter worth $1,767,000. Finally, Hsbc Holdings PLC raised its holdings in Okeanis Eco Tankers by 123.9% during the second quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock valued at $5,692,000 after acquiring an additional 98,528 shares during the period.

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.