Okeanis Eco Tankers (NYSE:ECO) Shares Gap Up – Time to Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO) gapped up prior to trading on Tuesday . The stock had previously closed at $20.71, but opened at $21.99. Okeanis Eco Tankers shares last traded at $22.13, with a volume of 114,835 shares trading hands.

Okeanis Eco Tankers Trading Up 7.3 %

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 firm has a market cap of $715.35 million and a price-to-earnings ratio of 6.12. The firm’s 50-day moving average is $22.43 and its 200-day moving average is $28.32.

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

Okeanis Eco Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.10%. Okeanis Eco Tankers’s dividend payout ratio is presently 48.48%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in Okeanis Eco Tankers in the 2nd quarter worth approximately $370,000. Hsbc Holdings PLC increased its stake in Okeanis Eco Tankers by 123.9% in the 2nd quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock worth $5,692,000 after acquiring an additional 98,528 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Okeanis Eco Tankers in the 2nd quarter worth approximately $1,767,000. Marshall Wace LLP purchased a new position in shares of Okeanis Eco Tankers in the 2nd quarter worth approximately $247,000. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of Okeanis Eco Tankers in the 2nd quarter worth approximately $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.