Okeanis Eco Tankers (NYSE:ECO) Shares Down 3.8% – Should You Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price dropped 3.8% during trading on Thursday . The stock traded as low as $23.15 and last traded at $23.15. Approximately 154,559 shares changed hands during trading, an increase of 104% from the average daily volume of 75,826 shares. The stock had previously closed at $24.07.

Okeanis Eco Tankers Trading Up 1.3 %

The company has a market capitalization of $760.65 million and a PE ratio of 6.51. The stock has a fifty day moving average of $29.72 and a two-hundred day moving average of $31.18. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 1.37.

Okeanis Eco Tankers (NYSE:ECO) last announced 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. The company had revenue of $84.93 million during the quarter, compared to analysts’ expectations of $74.61 million. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.00%. As a group, sell-side analysts anticipate that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.62%. The ex-dividend date is Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio is 48.48%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Hedge funds have recently modified their holdings of the company. Jane Street Group LLC purchased 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 Okeanis Eco Tankers during the 2nd quarter valued at $247,000. BBR Partners LLC bought a new position in Okeanis Eco Tankers in the 3rd quarter worth $326,000. Acadian Asset Management LLC purchased a new stake in Okeanis Eco Tankers in the second quarter worth about $370,000. Finally, Public Employees Retirement System of Ohio bought a new position in Okeanis Eco Tankers in the third quarter worth $383,000.

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.