Okeanis Eco Tankers (NYSE:ECO) Stock Price Up 1.5% – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO) rose 1.5% on Monday . The stock traded as high as $19.00 and last traded at $18.81. Approximately 77,686 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 134,434 shares. The stock had previously closed at $18.54.

Wall Street Analysts Forecast Growth

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

Okeanis Eco Tankers Stock Up 6.3 %

The firm has a market capitalization of $634.22 million, a PE ratio of 5.83 and a beta of 0.04. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.64 and a quick ratio of 1.34. The company’s fifty day simple moving average is $22.62 and its 200-day simple moving average is $24.62.

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

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 7.11%. The ex-dividend date of this dividend was Monday, March 3rd. Okeanis Eco Tankers’s payout ratio is 41.42%.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently modified their holdings of ECO. FIL Ltd grew its holdings in shares of Okeanis Eco Tankers by 1.3% during the 4th quarter. FIL Ltd now owns 611,929 shares of the company’s stock worth $12,439,000 after purchasing an additional 8,053 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Okeanis Eco Tankers by 70.2% during the 4th 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 last quarter. Boston Partners acquired a new stake in shares of Okeanis Eco Tankers in the 4th quarter worth $1,231,000. Walleye Capital LLC acquired a new position in Okeanis Eco Tankers during the fourth quarter worth $1,144,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $1,169,000.

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.