Okeanis Eco Tankers (NYSE:ECO) Sees Large Volume Increase – Still a Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO) saw strong trading volume on Friday . 224,839 shares traded hands during mid-day trading, a decline of 4% from the previous session’s volume of 233,363 shares.The stock last traded at $23.66 and had previously closed at $22.05.

Okeanis Eco Tankers Stock Performance

The company’s fifty day simple moving average is $22.12 and its 200 day simple moving average is $28.17. The stock has a market capitalization of $779.74 million and a P/E ratio of 6.67. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 1.48.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.36. The company had revenue of $84.93 million during the quarter, compared to analyst estimates 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 forecast that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio is currently 48.48%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in Okeanis Eco Tankers in the 3rd quarter worth $206,000. Marshall Wace LLP bought a new position in Okeanis Eco Tankers during the 2nd quarter worth approximately $247,000. BBR Partners LLC purchased a new position in Okeanis Eco Tankers in the 3rd quarter worth approximately $326,000. Acadian Asset Management LLC bought a new stake in Okeanis Eco Tankers in the second quarter valued at approximately $370,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Okeanis Eco Tankers during the third quarter valued at approximately $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.