Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $22.04, but opened at $21.30. Okeanis Eco Tankers shares last traded at $21.47, with a volume of 73,745 shares trading hands.

Okeanis Eco Tankers Stock Performance

The stock’s 50 day moving average price is $29.29 and its 200 day moving average price is $31.02. The company has a market capitalization of $702.06 million and a P/E ratio of 6.07. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results 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 return on equity of 27.19% and a net margin of 29.25%. The company had revenue of $84.93 million for the quarter, compared to analyst estimates of $74.61 million. As a group, equities analysts expect that Okeanis Eco Tankers Corp. will post 3.19 EPS for the current year.

Okeanis Eco Tankers Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 8.25%. The ex-dividend date is Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio (DPR) is currently 48.48%.

Institutional Trading of Okeanis Eco Tankers

Several hedge funds have recently bought and sold shares of ECO. Public Employees Retirement System of Ohio acquired a new position in Okeanis Eco Tankers during the 3rd quarter valued at about $383,000. Jane Street Group LLC purchased a new position in shares of Okeanis Eco Tankers during the third quarter valued at approximately $206,000. Wexford Capital LP grew its holdings in Okeanis Eco Tankers by 7.1% during the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock worth $728,000 after buying an additional 1,472 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Okeanis Eco Tankers in the 3rd quarter valued at $1,169,000. Finally, PDT Partners LLC lifted its stake in Okeanis Eco Tankers by 61.5% during the 3rd quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock valued at $663,000 after acquiring an additional 7,715 shares in the last quarter.

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.