Okeanis Eco Tankers (NYSE:ECO) Trading 2.5% Higher – Should You Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price traded up 2.5% on Friday . The stock traded as high as $22.49 and last traded at $22.47. 19,255 shares were traded during trading, a decline of 85% from the average session volume of 129,816 shares. The stock had previously closed at $21.92.

Analysts Set New Price Targets

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

Okeanis Eco Tankers Price Performance

The stock has a market cap of $715.67 million, a P/E ratio of 6.58 and a beta of 0.57. The company’s 50 day moving average price is $22.86 and its 200-day moving average price is $25.15. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 1.46.

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

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date of this dividend was Monday, March 3rd. Okeanis Eco Tankers’s dividend payout ratio is currently 41.42%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in shares of Okeanis Eco Tankers by 409.9% during the third quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock worth $661,000 after buying an additional 16,280 shares during the period. BBR Partners LLC bought a new stake in Okeanis Eco Tankers during the third quarter valued at $326,000. PDT Partners LLC lifted its stake in shares of Okeanis Eco Tankers by 61.5% in the 3rd quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock valued at $663,000 after purchasing an additional 7,715 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Okeanis Eco Tankers during the 3rd quarter valued at about $1,169,000. Finally, Wexford Capital LP increased its holdings in Okeanis Eco Tankers by 7.1% in the third quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock worth $728,000 after purchasing an additional 1,472 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.