Okeanis Eco Tankers (NYSE:ECO) Hits New 52-Week Low – Time to Sell?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $22.94 and last traded at $23.01, with a volume of 217662 shares changing hands. The stock had previously closed at $23.30.

Okeanis Eco Tankers Price Performance

The firm has a market cap of $780.29 million and a PE ratio of 6.61. The company has a 50 day moving average price of $30.65 and a 200 day moving average price of $31.55. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 1.37.

Okeanis Eco Tankers (NYSE:ECO) last posted its 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 company had revenue of $84.93 million for the quarter, compared to analyst estimates of $74.61 million. Okeanis Eco Tankers had a return on equity of 27.00% and a net margin of 29.25%. On average, sell-side analysts expect that Okeanis Eco Tankers Corp. will post 3.19 EPS for the current year.

Okeanis Eco Tankers Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.43%. The ex-dividend date is Monday, November 18th. Okeanis Eco Tankers’s payout ratio is 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lighthouse Investment Partners LLC purchased a new position in shares of Okeanis Eco Tankers in the 2nd quarter worth $2,086,000. Acadian Asset Management LLC purchased a new position in shares of Okeanis Eco Tankers in the 2nd quarter worth about $370,000. Marshall Wace LLP acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at about $247,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Okeanis Eco Tankers during the 2nd quarter worth approximately $1,767,000. Finally, Hsbc Holdings PLC raised its holdings in Okeanis Eco Tankers by 123.9% in the second quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock valued at $5,692,000 after buying an additional 98,528 shares during the period.

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.