Okeanis Eco Tankers (NYSE:ECO) Stock Price Down 5.4% After Analyst Downgrade

Okeanis Eco Tankers Corp. (NYSE:ECO)’s share price traded down 5.4% during trading on Thursday after B. Riley lowered their price target on the stock from $44.00 to $40.00. B. Riley currently has a buy rating on the stock. Okeanis Eco Tankers traded as low as $23.90 and last traded at $23.90. 242,315 shares traded hands during trading, a decline of 17% from the average session volume of 293,095 shares. The stock had previously closed at $25.26.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several large investors have recently modified their holdings of the business. Hsbc Holdings PLC boosted its position in Okeanis Eco Tankers by 123.9% during the 2nd quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock valued at $5,692,000 after acquiring an additional 98,528 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in Okeanis Eco Tankers in the second quarter worth about $2,086,000. Skandinaviska Enskilda Banken AB publ bought a new position in Okeanis Eco Tankers in the second quarter worth about $1,767,000. Quadrature Capital Ltd purchased a new stake in shares of Okeanis Eco Tankers during the third quarter valued at about $1,169,000. Finally, Wexford Capital LP boosted its holdings in shares of Okeanis Eco Tankers by 7.1% in the 3rd quarter. Wexford Capital LP now owns 22,204 shares of the company’s stock valued at $728,000 after buying an additional 1,472 shares in the last quarter.

Okeanis Eco Tankers Stock Performance

The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 1.48. The stock has a market cap of $760.01 million and a PE ratio of 6.50. The business’s 50-day moving average price is $22.02 and its 200-day moving average price is $27.86.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.36. The company had revenue of $84.93 million for the quarter, compared to analyst estimates of $74.61 million. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. As a group, equities research analysts expect that Okeanis Eco Tankers Corp. will post 3.19 earnings per share for the current fiscal year.

Okeanis Eco Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.62%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s payout ratio is 48.48%.

About Okeanis Eco Tankers

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.