Okeanis Eco Tankers (NYSE:ECO) Shares Gap Down - Here's Why

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $23.49, but opened at $22.66. Okeanis Eco Tankers shares last traded at $22.82, with a volume of 50,727 shares.

Okeanis Eco Tankers Stock Down 3.2%

The company has a market capitalization of $732.00 million, a P/E ratio of 9.17 and a beta of -0.08. The company has a current ratio of 1.65, a quick ratio of 1.28 and a debt-to-equity ratio of 1.43. The stock has a 50 day moving average price of $23.15 and a 200 day moving average price of $22.41.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.12. The firm had revenue of $48.60 million for the quarter, compared to analyst estimates of $46.91 million. Okeanis Eco Tankers had a return on equity of 18.89% and a net margin of 22.05%. On average, research analysts anticipate that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current fiscal year.

Okeanis Eco Tankers Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, June 12th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.32 per share. This represents a yield of 9.52%. The ex-dividend date of this dividend was Tuesday, June 3rd. Okeanis Eco Tankers's payout ratio is presently 51.61%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. PDT Partners LLC boosted its position in Okeanis Eco Tankers by 6.2% during the fourth quarter. PDT Partners LLC now owns 21,504 shares of the company's stock valued at $457,000 after acquiring an additional 1,250 shares during the last quarter. Citadel Advisors LLC increased its holdings in Okeanis Eco Tankers by 21.7% in the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company's stock worth $279,000 after purchasing an additional 2,340 shares in the last quarter. Wells Fargo & Company MN acquired a new position in Okeanis Eco Tankers in the fourth quarter valued at approximately $78,000. Bank of America Corp DE boosted its holdings in shares of Okeanis Eco Tankers by 25.9% during the 4th quarter. Bank of America Corp DE now owns 23,307 shares of the company's stock worth $496,000 after buying an additional 4,798 shares in the last quarter. Finally, FIL Ltd boosted its holdings in shares of Okeanis Eco Tankers by 1.3% during the 4th quarter. FIL Ltd now owns 611,929 shares of the company's stock worth $12,439,000 after buying an additional 8,053 shares in the last quarter.

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.

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