Okeanis Eco Tankers (NYSE:ECO) Hits New 52-Week Low – What’s Next?

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $22.80 and last traded at $23.00, with a volume of 89704 shares trading hands. The stock had previously closed at $23.58.

Okeanis Eco Tankers Price Performance

The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 1.48. The firm has a 50-day simple moving average of $29.29 and a 200-day simple moving average of $31.02. The firm has a market cap of $710.76 million and a P/E ratio of 6.01.

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

Okeanis Eco Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be issued a $0.45 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a yield of 8.15%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 48.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC lifted its position in shares of 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 acquiring an additional 98,528 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Okeanis Eco Tankers in the second quarter valued at $2,086,000. Skandinaviska Enskilda Banken AB publ bought a new position in Okeanis Eco Tankers during the second quarter worth $1,767,000. Quadrature Capital Ltd acquired a new position in Okeanis Eco Tankers during the 3rd quarter worth about $1,169,000. Finally, BNP Paribas Financial Markets boosted its position in Okeanis Eco Tankers by 409.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock worth $661,000 after acquiring an additional 16,280 shares during the last quarter.

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.