Okeanis Eco Tankers (NYSE:ECO) Sees Large Volume Increase Following Dividend Announcement

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) saw unusually-high trading volume on Friday following a dividend announcement from the company. Approximately 481,258 shares traded hands during mid-day trading, an increase of 95% from the previous session’s volume of 246,729 shares.The stock last traded at $21.99 and had previously closed at $22.44.

The newly announced dividend which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 6.40%. Okeanis Eco Tankers’s dividend payout ratio is currently 52.07%.

Wall Street Analyst Weigh In

Separately, B. Riley lowered their price objective on shares of Okeanis Eco Tankers from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

Okeanis Eco Tankers Trading Down 2.5 %

The firm has a market capitalization of $704.32 million and a price-to-earnings ratio of 6.47. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.64 and a quick ratio of 1.34. The firm’s 50-day simple moving average is $22.77 and its 200 day simple moving average is $26.62.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.22 by $0.19. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.40%. The business had revenue of $85.19 million during the quarter, compared to the consensus estimate of $82.46 million. Equities analysts expect that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current year.

Institutional Trading of Okeanis Eco Tankers

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN bought a new stake in shares of Okeanis Eco Tankers during the fourth quarter worth $78,000. Jane Street Group LLC bought a new stake in shares of Okeanis Eco Tankers during the third quarter worth $206,000. BBR Partners LLC bought a new stake in shares of Okeanis Eco Tankers during the third quarter worth $326,000. Aristides Capital LLC bought a new stake in shares of Okeanis Eco Tankers during the fourth quarter worth $227,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Okeanis Eco Tankers during the third quarter worth $383,000.

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.