Okeanis Eco Tankers (NYSE:ECO) Shares Gap Up – Here’s What Happened

Okeanis Eco Tankers Corp. (NYSE:ECO)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $22.49, but opened at $23.67. Okeanis Eco Tankers shares last traded at $23.49, with a volume of 122,729 shares traded.

Okeanis Eco Tankers Trading Up 7.5%

The company’s 50 day moving average price is $22.69 and its 200 day moving average price is $22.33. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.34 and a current ratio of 1.64. The company has a market cap of $778.42 million, a price-to-earnings ratio of 7.15 and a beta of -0.08.

Okeanis Eco Tankers (NYSE:ECO) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.36 EPS 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 analyst estimates of $46.91 million. Research analysts anticipate that Okeanis Eco Tankers Corp. will post 1.34 EPS for the current year.

Okeanis Eco Tankers Dividend Announcement

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

Institutional Inflows and Outflows

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