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

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $51.19, but opened at $49.02. Okeanis Eco Tankers shares last traded at $48.1240, with a volume of 76,328 shares changing hands.

Analyst Ratings Changes

Several research analysts have issued reports on ECO shares. Clarkson Capital downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. B. Riley Financial lifted their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings lowered shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 25th. Wall Street Zen lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.89.

Okeanis Eco Tankers Trading Down 5.5%

The company has a debt-to-equity ratio of 0.75, a current ratio of 1.70 and a quick ratio of 1.56. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 8.55 and a beta of 0.09. The business’s 50 day simple moving average is $52.07 and its 200 day simple moving average is $44.08.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.59. The company had revenue of $170.17 million for the quarter, compared to analyst estimates of $134.02 million. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%. Research analysts anticipate that Okeanis Eco Tankers Corp. will post 9.53 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Thursday, May 28th will be paid a $2.00 dividend. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. The ex-dividend date is Thursday, May 28th. This represents a $8.00 annualized dividend and a dividend yield of 16.5%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 109.54%.

Institutional Trading of Okeanis Eco Tankers

Several hedge funds have recently made changes to their positions in ECO. Encompass Capital Advisors LLC acquired a new stake in shares of Okeanis Eco Tankers in the 4th quarter worth $27,416,000. Fearnley Asset Management AS acquired a new stake in shares of Okeanis Eco Tankers in the 4th quarter worth $18,696,000. Marshall Wace LLP acquired a new stake in shares of Okeanis Eco Tankers in the 4th quarter worth $10,911,000. JPMorgan Chase & Co. acquired a new stake in shares of Okeanis Eco Tankers in the 4th quarter worth $5,222,000. Finally, Bank of America Corp DE lifted its stake in shares of Okeanis Eco Tankers by 96.7% in the 1st quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock worth $14,079,000 after acquiring an additional 136,782 shares during the period.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.

As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.