Okeanis Eco Tankers (NYSE:ECO) Sees Strong Trading Volume After Dividend Announcement

Okeanis Eco Tankers Corp. (NYSE:ECO) saw unusually-strong trading volume on Friday after the company announced a dividend. Approximately 481,258 shares changed hands during mid-day trading, an increase of 95% from the previous session’s volume of 246,729 shares.The stock last traded at $21.99 and had previously closed at $22.44.

The newly announced dividend which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.40%. The ex-dividend date is Monday, March 3rd. Okeanis Eco Tankers’s payout ratio is currently 52.07%.

Analysts Set New Price Targets

Separately, B. Riley cut their target price on shares of Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th.

Okeanis Eco Tankers Stock Down 2.5 %

The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 1.46. The business has a fifty day simple moving average of $22.77 and a two-hundred day simple moving average of $26.62. The company has a market capitalization of $704.32 million and a price-to-earnings ratio of 6.47.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.19. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%. The firm had revenue of $85.19 million for the quarter, compared to analysts’ expectations of $82.46 million. Equities analysts expect that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Institutional Trading of Okeanis Eco Tankers

A number of large investors have recently bought and sold shares of ECO. Arrowstreet Capital Limited Partnership grew its position in Okeanis Eco Tankers by 70.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 507,495 shares of the company’s stock valued at $10,579,000 after acquiring an additional 209,260 shares during the period. Boston Partners bought a new stake in Okeanis Eco Tankers in the fourth quarter valued at $1,231,000. Walleye Capital LLC bought a new stake in Okeanis Eco Tankers in the fourth quarter valued at $1,144,000. Quadrature Capital Ltd bought a new stake in Okeanis Eco Tankers in the third quarter valued at $1,169,000. Finally, Boothbay Fund Management LLC bought a new stake in Okeanis Eco Tankers in the fourth quarter valued at $527,000.

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.