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

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results 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 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%. Research analysts forecast that Okeanis Eco Tankers Corp. will post 3.19 earnings per share 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. Stockholders of record on Monday, November 18th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.25%. The ex-dividend date is Monday, November 18th. Okeanis Eco Tankers’s payout ratio is 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

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