Okeanis Eco Tankers (NYSE:ECO) Shares Gap Up – Still a Buy?

Okeanis Eco Tankers Corp. (NYSE:ECO) shares gapped up before the market opened on Thursday . The stock had previously closed at $20.37, but opened at $21.18. Okeanis Eco Tankers shares last traded at $21.34, with a volume of 40,074 shares.

Wall Street Analysts Forecast Growth

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

Okeanis Eco Tankers Stock Performance

The company has a market capitalization of $677.23 million and a price-to-earnings ratio of 6.22. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.64 and a quick ratio of 1.34. The company’s 50-day moving average price is $22.97 and its two-hundred day moving average price is $26.07.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.19. The company had revenue of $85.19 million for the quarter, compared to the consensus estimate of $82.46 million. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%. On average, 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 will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 6.66%. Okeanis Eco Tankers’s dividend payout ratio is currently 41.42%.

Institutional Trading of Okeanis Eco Tankers

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in Okeanis Eco Tankers by 409.9% in the third quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock worth $661,000 after acquiring an additional 16,280 shares in the last quarter. BBR Partners LLC acquired a new position in Okeanis Eco Tankers during the third quarter worth $326,000. PDT Partners LLC lifted its stake in shares of Okeanis Eco Tankers by 61.5% in the third quarter. PDT Partners LLC now owns 20,254 shares of the company’s stock valued at $663,000 after buying an additional 7,715 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Okeanis Eco Tankers during the third quarter worth about $1,169,000. Finally, Wexford Capital LP raised 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 worth $728,000 after acquiring an additional 1,472 shares during the last quarter.

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.