Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Should You Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $22.53, but opened at $21.44. Okeanis Eco Tankers shares last traded at $21.74, with a volume of 79,718 shares traded.

Okeanis Eco Tankers Price Performance

The company has a 50 day moving average of $22.30 and a 200 day moving average of $28.25. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69. The stock has a market capitalization of $707.62 million and a price-to-earnings ratio of 6.06.

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

Okeanis Eco Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 8.19%. The ex-dividend date was Monday, November 18th. Okeanis Eco Tankers’s payout ratio is currently 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in ECO. Acadian Asset Management LLC bought a new stake in shares of Okeanis Eco Tankers in the second quarter worth $370,000. Hsbc Holdings PLC grew its position in shares of 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 in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at approximately $1,767,000. Marshall Wace LLP acquired a new stake in shares of Okeanis Eco Tankers during the 2nd quarter valued at approximately $247,000. Finally, Lighthouse Investment Partners LLC bought a new position in Okeanis Eco Tankers during the second quarter worth $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.