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

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) gapped up before the market opened on Tuesday . The stock had previously closed at $27.98, but opened at $28.94. Okeanis Eco Tankers shares last traded at $28.95, with a volume of 19,394 shares changing hands.

Okeanis Eco Tankers Stock Up 2.7 %

The company has a debt-to-equity ratio of 1.37, a current ratio of 1.48 and a quick ratio of 1.23. The company has a market cap of $924.93 million and a price-to-earnings ratio of 6.68. The firm’s 50-day moving average price is $31.91 and its 200-day moving average price is $32.00.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings results on Friday, August 9th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.33. Okeanis Eco Tankers had a return on equity of 28.35% and a net margin of 30.17%. The firm had revenue of $111.99 million during the quarter, compared to analysts’ expectations of $100.71 million. Sell-side analysts forecast that Okeanis Eco Tankers Corp. will post 3.52 earnings per share for the current fiscal year.

Okeanis Eco Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 15.32%. The ex-dividend date of this dividend was Wednesday, August 21st. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 105.01%.

Institutional Investors Weigh In On Okeanis Eco Tankers

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

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.