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

Okeanis Eco Tankers Corp. (NYSE:ECO) saw unusually-strong trading volume on Thursday . Approximately 146,594 shares traded hands during mid-day trading, an increase of 63% from the previous session’s volume of 90,200 shares.The stock last traded at $22.10 and had previously closed at $21.26.

Okeanis Eco Tankers Price Performance

The firm has a market cap of $681.23 million and a price-to-earnings ratio of 5.83. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 1.48. The stock’s fifty day moving average price is $22.57 and its 200-day moving average price is $28.44.

Okeanis Eco Tankers (NYSE:ECO) last posted 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 27.19% and a net margin of 29.25%. The company had revenue of $84.93 million during the quarter, compared to analysts’ expectations of $74.61 million. As a group, equities research analysts forecast that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a yield of 8.51%. Okeanis Eco Tankers’s payout ratio is currently 48.48%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in Okeanis Eco Tankers during the third quarter worth $206,000. Marshall Wace LLP acquired a new position in Okeanis Eco Tankers during the 2nd quarter worth about $247,000. BBR Partners LLC purchased a new position in Okeanis Eco Tankers during the 3rd quarter valued at about $326,000. Acadian Asset Management LLC acquired a new position in Okeanis Eco Tankers in the 2nd quarter valued at about $370,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Okeanis Eco Tankers in the 3rd quarter valued at about $383,000.

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.