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

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $23.98, but opened at $25.00. Okeanis Eco Tankers shares last traded at $24.79, with a volume of 40,485 shares traded.

Analyst Upgrades and Downgrades

Separately, B. Riley reduced their target price 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 Stock Performance

The stock's 50-day moving average price is $21.85 and its 200-day moving average price is $22.68. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $762.35 million, a P/E ratio of 7.01 and a beta of -0.05.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $82.46 million. As a group, equities analysts expect that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Okeanis Eco Tankers Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 5.91%. Okeanis Eco Tankers's payout ratio is currently 41.42%.

Institutional Trading of Okeanis Eco Tankers

Several large investors have recently added to or reduced their stakes in ECO. Wells Fargo & Company MN acquired a new stake in Okeanis Eco Tankers in the fourth quarter worth about $78,000. Jane Street Group LLC acquired a new position in shares of Okeanis Eco Tankers during the third quarter valued at approximately $206,000. B. Riley Wealth Advisors Inc. bought a new position in Okeanis Eco Tankers during the 4th quarter valued at $213,000. Aristides Capital LLC acquired a new position in shares of Okeanis Eco Tankers during the 4th quarter valued at $227,000. Finally, Citadel Advisors LLC lifted its holdings in shares of Okeanis Eco Tankers by 21.7% in the fourth quarter. Citadel Advisors LLC now owns 13,108 shares of the company's stock valued at $279,000 after buying 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.