Okeanis Eco Tankers (NYSE:ECO) Shares Up 2.5% – What’s Next?

Okeanis Eco Tankers Corp. (NYSE:ECO) was up 2.5% during mid-day trading on Friday . The company traded as high as $22.49 and last traded at $22.47. Approximately 19,255 shares traded hands during trading, a decline of 85% from the average daily volume of 129,816 shares. The stock had previously closed at $21.92.

Wall Street Analysts Forecast Growth

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

Okeanis Eco Tankers Trading Up 2.9 %

The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $726.39 million, a P/E ratio of 6.68 and a beta of 0.57. The firm’s 50-day simple moving average is $22.83 and its 200 day simple moving average is $25.07.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Wednesday, February 19th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.19. The business had revenue of $85.19 million for the quarter, compared to the consensus estimate of $82.46 million. Okeanis Eco Tankers had a net margin of 27.68% and a return on equity of 25.40%. Equities research analysts anticipate that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.20%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 41.42%.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of hedge funds have recently modified their holdings of ECO. Wells Fargo & Company MN acquired a new position in shares of Okeanis Eco Tankers in the 4th quarter valued at $78,000. Jane Street Group LLC purchased a new stake in Okeanis Eco Tankers during the third quarter valued at about $206,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Okeanis Eco Tankers in the fourth quarter worth about $213,000. Aristides Capital LLC purchased a new position in shares of Okeanis Eco Tankers in the fourth quarter worth approximately $227,000. Finally, Citadel Advisors LLC raised its holdings in shares of Okeanis Eco Tankers by 21.7% during the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company’s stock valued at $279,000 after acquiring an additional 2,340 shares during the period.

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.