Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Here’s Why

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price gapped down prior to trading 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 trading hands.

Okeanis Eco Tankers Price Performance

The business has a 50-day moving average of $22.12 and a 200 day moving average of $28.17. The firm has a market capitalization of $777.71 million and a P/E ratio of 6.66. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 1.48.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Friday, November 8th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.09 by $0.36. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. The firm had revenue of $84.93 million during the quarter, compared to the consensus estimate of $74.61 million. On average, sell-side analysts predict that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 48.48%.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of hedge funds have recently added to or reduced their stakes in ECO. Public Employees Retirement System of Ohio bought a new position in shares of Okeanis Eco Tankers in the third quarter valued at approximately $383,000. Jane Street Group LLC bought a new position in Okeanis Eco Tankers during the 3rd quarter valued at $206,000. Wexford Capital LP boosted its holdings in Okeanis Eco Tankers by 7.1% during 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 during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Okeanis Eco Tankers in the 3rd quarter worth $1,169,000. Finally, PDT Partners LLC raised its holdings in shares of Okeanis Eco Tankers by 61.5% in the third quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock valued at $663,000 after purchasing an additional 7,715 shares during the last quarter.

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.