Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price gapped down before the market opened on Friday . The stock had previously closed at $20.82, but opened at $18.93. Okeanis Eco Tankers shares last traded at $18.71, with a volume of 123,658 shares.

Analysts Set New Price Targets

Separately, B. Riley decreased their price objective on 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 Performance

The stock has a market capitalization of $598.00 million, a P/E ratio of 5.50 and a beta of 0.04. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 1.46. The stock has a 50 day simple moving average of $22.62 and a two-hundred day simple moving average of $24.68.

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

Okeanis Eco Tankers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 7.54%. Okeanis Eco Tankers’s dividend payout ratio is presently 41.42%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in Okeanis Eco Tankers in the third quarter valued at approximately $1,169,000. BNP Paribas Financial Markets raised its stake in Okeanis Eco Tankers by 409.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock valued at $661,000 after acquiring an additional 16,280 shares during the period. Boston Partners acquired a new stake in Okeanis Eco Tankers during the 4th quarter valued at $1,231,000. Jane Street Group LLC bought a new position in Okeanis Eco Tankers during the third quarter worth $206,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Okeanis Eco Tankers in the third quarter valued at $383,000.

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.