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 $30.93, but opened at $29.96. Okeanis Eco Tankers shares last traded at $29.86, with a volume of 63,416 shares.

Okeanis Eco Tankers Price Performance

The stock has a market capitalization of $932.34 million and a price-to-earnings ratio of 6.91. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 1.37. The stock has a 50-day simple moving average of $32.04 and a 200 day simple moving average of $32.02.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Friday, August 9th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.33. Okeanis Eco Tankers had a net margin of 30.17% and a return on equity of 28.35%. The firm had revenue of $111.99 million for the quarter, compared to the consensus estimate of $100.71 million. On average, equities research analysts forecast that Okeanis Eco Tankers Corp. will post 3.52 EPS for the current fiscal year.

Okeanis Eco Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a dividend of $1.10 per share. The ex-dividend date was Wednesday, August 21st. This represents a $4.40 dividend on an annualized basis and a yield of 15.19%. Okeanis Eco Tankers’s payout ratio is 105.01%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Susquehanna International Securities Ltd. acquired a new position in Okeanis Eco Tankers in the first quarter worth approximately $210,000. Marshall Wace LLP acquired a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth $247,000. Acadian Asset Management LLC bought a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at $370,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at $1,767,000. Finally, Lighthouse Investment Partners LLC bought a new stake in Okeanis Eco Tankers in the second quarter worth $2,086,000.

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.