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 before the market opened on Friday . The stock had previously closed at $23.00, but opened at $23.73. Okeanis Eco Tankers shares last traded at $23.37, with a volume of 14,989 shares changing hands.

Okeanis Eco Tankers Trading Up 1.7%

The business has a 50-day moving average of $22.41 and a 200-day moving average of $22.40. 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 cap of $753.02 million, a price-to-earnings ratio of 6.92 and a beta of -0.05.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.12. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%. The company had revenue of $48.60 million during the quarter, compared to the consensus estimate of $46.91 million. As a group, research analysts forecast that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current year.

Okeanis Eco Tankers Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, June 12th. Investors of record on Wednesday, June 4th will be issued a $0.32 dividend. This represents a yield of 9.52%. The ex-dividend date is Tuesday, June 3rd. Okeanis Eco Tankers's dividend payout ratio is presently 51.61%.

Institutional Trading of Okeanis Eco Tankers

Several large investors have recently made changes to their positions in ECO. FIL Ltd grew its holdings in Okeanis Eco Tankers by 1.3% during the fourth quarter. FIL Ltd now owns 611,929 shares of the company's stock valued at $12,439,000 after purchasing an additional 8,053 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Okeanis Eco Tankers by 70.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 507,495 shares of the company's stock worth $10,579,000 after buying an additional 209,260 shares during the last quarter. SG Americas Securities LLC bought a new position in Okeanis Eco Tankers in the 1st quarter worth $4,466,000. Goldman Sachs Group Inc. raised its holdings in Okeanis Eco Tankers by 56.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 150,568 shares of the company's stock worth $3,328,000 after acquiring an additional 54,528 shares during the period. Finally, Semmax Financial Advisors Inc. lifted its position in Okeanis Eco Tankers by 210.9% during the 1st quarter. Semmax Financial Advisors Inc. now owns 122,529 shares of the company's stock worth $2,906,000 after acquiring an additional 83,122 shares during 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.