Okeanis Eco Tankers (NYSE:ECO) Sees Large Volume Increase – Here’s What Happened

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) saw unusually-high trading volume on Friday . Approximately 54,837 shares were traded during trading, a decline of 30% from the previous session’s volume of 77,991 shares.The stock last traded at $22.08 and had previously closed at $22.08.

Okeanis Eco Tankers Stock Up 0.1 %

The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34. The company’s 50-day simple moving average is $28.83 and its 200 day simple moving average is $30.89. The firm has a market cap of $711.40 million and a P/E ratio of 6.08.

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

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 8.14%. The ex-dividend date of this dividend is Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio is currently 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Okeanis Eco Tankers in the third quarter valued at $383,000. Jane Street Group LLC purchased a new position in Okeanis Eco Tankers in the 3rd quarter worth about $206,000. Wexford Capital LP increased its stake in Okeanis Eco Tankers by 7.1% in the 3rd quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock worth $728,000 after buying an additional 1,472 shares during the period. Quadrature Capital Ltd purchased a new position in Okeanis Eco Tankers in the 3rd quarter worth about $1,169,000. Finally, PDT Partners LLC increased its stake in Okeanis Eco Tankers by 61.5% in the 3rd quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock worth $663,000 after buying an additional 7,715 shares during the period.

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.