Okeanis Eco Tankers (NYSE:ECO) Trading Down 5.4% on Analyst Downgrade

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) were down 5.4% during trading on Thursday after B. Riley lowered their price target on the stock from $44.00 to $40.00. B. Riley currently has a buy rating on the stock. Okeanis Eco Tankers traded as low as $23.90 and last traded at $23.90. Approximately 242,315 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 293,095 shares. The stock had previously closed at $25.26.

Hedge Funds Weigh In On Okeanis Eco Tankers

Large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at $206,000. Marshall Wace LLP acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at $247,000. BBR Partners LLC acquired a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at $326,000. Acadian Asset Management LLC acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at $370,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Okeanis Eco Tankers in the 3rd quarter valued at $383,000.

Okeanis Eco Tankers Price Performance

The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 1.48. The stock’s 50-day simple moving average is $22.06 and its two-hundred day simple moving average is $27.96. The company has a market capitalization of $769.44 million and a price-to-earnings ratio of 6.57.

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

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed 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 7.53%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio is presently 48.48%.

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.