Okeanis Eco Tankers (NYSE:ECO) Reaches New 52-Week Low – Should You Sell?

Okeanis Eco Tankers Corp. (NYSE:ECO) hit a new 52-week low during trading on Tuesday . The company traded as low as $18.79 and last traded at $18.92, with a volume of 60943 shares changing hands. The stock had previously closed at $19.35.

Okeanis Eco Tankers Trading Down 1.8 %

The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69. The company’s fifty day moving average is $25.81 and its two-hundred day moving average is $29.62. The company has a market cap of $612.01 million and a price-to-earnings ratio of 5.33.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.36. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. The firm had revenue of $84.93 million during the quarter, compared to analysts’ expectations of $74.61 million. On average, research analysts anticipate that Okeanis Eco Tankers Corp. will post 3.19 EPS 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 $0.45 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.80 annualized dividend and a yield of 9.47%. Okeanis Eco Tankers’s dividend payout ratio is presently 48.48%.

Institutional Trading of Okeanis Eco Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in Okeanis Eco Tankers in the second quarter valued at approximately $370,000. Hsbc Holdings PLC increased its holdings in Okeanis Eco Tankers by 123.9% in the 2nd quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock worth $5,692,000 after acquiring an additional 98,528 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in Okeanis Eco Tankers during the second quarter worth $1,767,000. Marshall Wace LLP purchased a new position in Okeanis Eco Tankers during the second quarter valued at $247,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Okeanis Eco Tankers in the second quarter valued at about $2,086,000.

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.